Rakuten Investment Management Inc. Invests $3.78 Million in NiSource, Inc $NI

Rakuten Investment Management Inc. bought a new stake in shares of NiSource, Inc (NYSE:NI) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 78,413 shares of the utilities provider’s stock, valued at approximately $3,776,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Financial Management LLC bought a new stake in NiSource in the second quarter worth $26,000. Zions Bancorporation National Association UT increased its position in NiSource by 113.8% during the fourth quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 330 shares during the last quarter. Strive Financial Group LLC bought a new position in NiSource during the fourth quarter valued at $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of NiSource in the fourth quarter valued at $27,000. Finally, DV Equities LLC purchased a new stake in shares of NiSource in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Performance

NI stock opened at $40.57 on Monday. NiSource, Inc has a twelve month low of $38.45 and a twelve month high of $49.21. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 3.02 and a beta of 0.55. The business’s fifty day simple moving average is $44.82 and its two-hundred day simple moving average is $46.15. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 1.31.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.15 billion. NiSource had a net margin of 13.20% and a return on equity of 7.95%. During the same period in the previous year, the firm earned $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Analysts predict that NiSource, Inc will post 2.05 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 30th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s payout ratio is 63.83%.

Insider Transactions at NiSource

In other NiSource news, 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 value of $1,590,381.60. Following the transaction, the executive vice president directly owned 78,527 shares in the company, valued at $3,329,544.80. This represents a 32.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NI shares. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Citigroup upped their price target on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of NiSource in a research report on Tuesday, July 21st. Mizuho dropped their target price on NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Evercore set a $52.00 target price on NiSource in a research report on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.64.

NiSource Profile

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.