Elevation Point Wealth Partners LLC Takes Position in NiSource, Inc $NI

Elevation Point Wealth Partners LLC acquired a new stake in shares of NiSource, Inc (NYSE:NI) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 17,210 shares of the utilities provider’s stock, valued at approximately $818,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in NiSource by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock worth $2,606,180,000 after purchasing an additional 1,032,630 shares in the last quarter. BlackRock Inc. purchased a new stake in NiSource in the second quarter worth approximately $2,613,234,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of NiSource by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider’s stock valued at $2,150,818,000 after purchasing an additional 8,240,227 shares during the last quarter. State Street Corp grew its stake in shares of NiSource by 4.5% during the fourth quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock valued at $1,116,459,000 after buying an additional 1,154,351 shares during the last quarter. Finally, Orion Porfolio Solutions LLC increased its stake in NiSource by 55,625.2% in 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 period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling

In related news, EVP Melody Birmingham sold 37,509 shares of the 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. LADENBURG THALM/SH SH dropped their price objective on NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a report on Monday, August 17th. Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a report on Tuesday, July 21st. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Royal Bank Of Canada assumed coverage on shares of NiSource in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.82.

NiSource Stock Up 0.5%

Shares of NiSource stock opened at $40.82 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.50 and a quick ratio of 0.41. The company has a 50-day moving average of $45.33 and a 200 day moving average of $46.25. The firm has a market cap of $19.57 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 3.02 and a beta of 0.55. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $49.21.

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

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be paid a $0.30 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. NiSource’s payout ratio is presently 63.83%.

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.