Maryland State Retirement & Pension System Sells 16,662 Shares of NiSource, Inc $NI

Maryland State Retirement & Pension System reduced its position in NiSource, Inc (NYSE:NI) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,767 shares of the utilities provider’s stock after selling 16,662 shares during the period. Maryland State Retirement & Pension System owned 0.10% of NiSource worth $21,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strive Financial Group LLC bought a new stake in NiSource in the 4th quarter worth approximately $26,000. Zions Bancorporation National Association UT boosted its position 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 valued at $26,000 after acquiring an additional 330 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of NiSource during the 4th quarter valued at approximately $27,000. DV Equities LLC purchased a new position in shares of NiSource in the fourth quarter valued at $28,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of NiSource in the fourth quarter valued at $28,000. 91.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NI shares. Citigroup upped their price target on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Royal Bank Of Canada began coverage on shares of NiSource in a report on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 target price on the stock. Weiss Ratings cut shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company upped their target price on shares of NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

NiSource Trading Down 0.9%

NI stock opened at $46.65 on Wednesday. NiSource, Inc has a 12 month low of $38.45 and a 12 month high of $49.21. The firm’s 50-day moving average is $47.05 and its 200 day moving average is $46.06. The company has a market capitalization of $22.37 billion, a PE ratio of 23.21, a P/E/G ratio of 3.76 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56.

NiSource (NYSE:NI) last released its quarterly earnings data 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 company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, research analysts anticipate that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be issued a $0.30 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. NiSource’s payout ratio is presently 59.70%.

Insider Buying and Selling

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total transaction of $715,200.00. Following the completion of the sale, the executive vice president directly owned 35,990 shares of the company’s stock, valued at $1,716,003.20. The trade was a 29.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melody Birmingham sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total value of $118,575.00. Following the completion of the sale, the executive vice president owned 116,036 shares of the company’s stock, valued at $5,503,587.48. This represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,500 shares of company stock valued at $1,305,675 in the last quarter. 0.37% of the stock is owned by company 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.