Mitsubishi UFJ Asset Management Co. Ltd. Makes New $55.05 Million Investment in NiSource, Inc $NI

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in NiSource, Inc (NYSE:NI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,157,807 shares of the utilities provider’s stock, valued at approximately $55,054,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NI. Zions Bancorporation National Association UT raised its stake in shares of NiSource by 113.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock worth $26,000 after buying an additional 330 shares during the period. Strive Financial Group LLC acquired a new stake in NiSource in the 4th quarter valued at $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in NiSource in the 4th quarter valued at $27,000. DV Equities LLC purchased a new stake in NiSource in the 4th quarter worth $28,000. Finally, Acumen Wealth Advisors LLC acquired a new position in NiSource during the fourth quarter worth $28,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Down 1.2%

NYSE NI opened at $41.61 on Thursday. The business has a fifty day moving average price of $45.69 and a 200 day moving average price of $46.31. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50. The company has a market cap of $19.96 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.13 and a beta of 0.55. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. NiSource had a net margin of 13.20% and a return on equity of 7.95%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Research analysts anticipate that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 63.83%.

Analysts Set New Price Targets

Several research firms have issued reports on NI. Citigroup increased their price objective on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. BMO Capital Markets cut their target price on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Wall Street Zen downgraded shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NiSource in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada initiated coverage on NiSource in a report on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.82.

Insider Activity

In related news, EVP Melanie B. Berman sold 15,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $47.68, for a total transaction of $715,200.00. Following the transaction, the executive vice president directly owned 35,990 shares in the company, valued at approximately $1,716,003.20. The trade was a 29.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Melody Birmingham sold 37,509 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the sale, the executive vice president directly owned 78,527 shares of the company’s stock, valued at approximately $3,329,544.80. This represents a 32.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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.