Kingdom Financial Group LLC. Invests $611,000 in NiSource, Inc $NI

Kingdom Financial Group LLC. bought a new position in shares of NiSource, Inc (NYSE:NI) during the 4th quarter, HoldingsChannel reports. The fund bought 14,632 shares of the utilities provider’s stock, valued at approximately $611,000.

Several other institutional investors and hedge funds have also made changes to their positions in NI. Orion Porfolio Solutions LLC boosted its holdings in shares of NiSource by 55,625.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock worth $680,411,000 after purchasing an additional 16,836,630 shares during the last quarter. Millennium Management LLC grew its holdings in shares of NiSource by 2,288.8% in the third quarter. Millennium Management LLC now owns 3,166,313 shares of the utilities provider’s stock valued at $137,101,000 after purchasing an additional 3,033,764 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of NiSource in the fourth quarter valued at about $100,965,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of NiSource in the third quarter valued at about $84,086,000. Finally, Soroban Capital Partners LP grew its holdings in shares of NiSource by 52.0% in the second quarter. Soroban Capital Partners LP now owns 4,434,245 shares of the utilities provider’s stock valued at $178,877,000 after purchasing an additional 1,516,296 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NI has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. KeyCorp initiated coverage on NiSource in a research note on Tuesday, March 31st. They set an “overweight” rating and a $52.00 target price for the company. Evercore set a $52.00 target price on NiSource in a research note on Monday, May 11th. Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings cut NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, NiSource presently has an average rating of “Moderate Buy” and an average target price of $50.33.

NiSource Price Performance

NiSource stock opened at $47.76 on Friday. The company’s 50 day simple moving average is $47.16 and its 200-day simple moving average is $44.84. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.75 and a beta of 0.57. NiSource, Inc has a 1 year low of $38.13 and a 1 year high of $48.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. NiSource had a net margin of 14.15% and a return on equity of 8.31%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities research analysts expect that NiSource, Inc will post 2.05 earnings per share for the current year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.5%. NiSource’s dividend payout ratio is presently 59.70%.

Insider Transactions at NiSource

In other NiSource news, EVP Melody Birmingham sold 10,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total value of $471,900.00. Following the completion of the transaction, the executive vice president owned 117,899 shares in the company, valued at $5,563,653.81. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

About NiSource

NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.

The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.