Allstate Corp Has $1.44 Million Holdings in NiSource, Inc $NI

Allstate Corp lifted its position in shares of NiSource, Inc (NYSE:NI) by 94.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,527 shares of the utilities provider’s stock after purchasing an additional 16,794 shares during the quarter. Allstate Corp’s holdings in NiSource were worth $1,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. REAP Financial Group LLC bought a new position in NiSource during the third quarter worth $32,000. Elyxium Wealth LLC purchased a new stake in shares of NiSource in the fourth quarter valued at about $33,000. Laurel Wealth Advisors LLC purchased a new stake in shares of NiSource in the fourth quarter valued at about $46,000. Sentry Investment Management LLC purchased a new stake in shares of NiSource in the third quarter valued at about $52,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of NiSource in the second quarter valued at about $56,000. 91.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,716,003.20. The trade was a 29.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $471,900.00. Following the transaction, the executive vice president directly owned 117,899 shares in the company, valued at approximately $5,563,653.81. The trade was a 7.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,500 shares of company stock worth $1,305,675. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NI shares. Evercore set a $52.00 price objective on shares of NiSource in a report on Monday, May 11th. Wells Fargo & Company raised their price objective on shares of NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings downgraded shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. Citigroup raised their price objective on shares of NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a $51.00 price objective on shares of NiSource in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.33.

NiSource Price Performance

NI stock opened at $46.21 on Friday. The firm’s fifty day moving average is $47.20 and its 200 day moving average is $45.01. 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, Inc has a 52 week low of $38.45 and a 52 week high of $48.98. The firm has a market cap of $22.16 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.73 and a beta of 0.57.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.52 billion. NiSource had a net margin of 14.15% and a return on equity of 8.31%. During the same period in the prior year, the business posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Research 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 Thursday, August 20th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s payout ratio is presently 59.70%.

NiSource Company 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.