Daiichi Life Insurance Co. Ltd. Buys Shares of 148,432 NiSource, Inc $NI

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of NiSource, Inc (NYSE:NI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 148,432 shares of the utilities provider’s stock, valued at approximately $7,058,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of NiSource during the second quarter worth about $2,613,234,000. BNP Paribas Financial Markets lifted its stake in shares of NiSource by 41.7% during the fourth quarter. BNP Paribas Financial Markets now owns 891,464 shares of the utilities provider’s stock valued at $37,228,000 after buying an additional 262,483 shares during the period. Norges Bank purchased a new position in shares of NiSource during the fourth quarter valued at approximately $336,852,000. Reaves W H & Co. Inc. boosted its position in NiSource by 8.3% during the fourth quarter. Reaves W H & Co. Inc. now owns 5,424,733 shares of the utilities provider’s stock worth $226,537,000 after acquiring an additional 415,089 shares during the last quarter. Finally, De Lisle Partners LLP acquired a new stake in NiSource during the fourth quarter worth approximately $4,176,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NI. Citigroup boosted their price target on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. KeyCorp decreased their price target on NiSource from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Barclays lowered their price target on NiSource from $51.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada assumed coverage on shares of NiSource in a research note on Wednesday, July 1st. They set an “outperform” rating and a $52.00 price objective for the company. Finally, Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.82.

NiSource Price Performance

NiSource stock opened at $40.63 on Friday. The firm has a fifty day moving average of $45.46 and a 200-day moving average of $46.25. NiSource, Inc has a 52-week low of $38.45 and a 52-week high of $49.21. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $19.48 billion, a P/E ratio of 21.61, a PEG ratio of 3.02 and a beta of 0.55.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, analysts predict that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, October 30th. NiSource’s payout ratio is currently 63.83%.

Insider Buying and Selling at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares of the company’s stock, valued at $3,329,544.80. This represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

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.