The Manufacturers Life Insurance Company Has $56.64 Million Position in NiSource, Inc $NI

The Manufacturers Life Insurance Company lessened its position in NiSource, Inc (NYSE:NI) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,213,933 shares of the utilities provider’s stock after selling 239,202 shares during the period. The Manufacturers Life Insurance Company’s holdings in NiSource were worth $56,642,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT boosted its position in shares of NiSource by 113.8% during the fourth quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 330 shares in the last quarter. Strive Financial Group LLC bought a new stake in shares of NiSource in the 4th quarter valued at $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in NiSource during the 4th quarter worth $27,000. DV Equities LLC acquired a new stake in NiSource during the 4th quarter worth $28,000. Finally, Acumen Wealth Advisors LLC bought a new position in NiSource during the fourth quarter worth about $28,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Price Performance

NI stock opened at $44.82 on Thursday. The stock has a 50-day moving average price of $46.81 and a two-hundred day moving average price of $46.38. The stock has a market cap of $21.49 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 3.35 and a beta of 0.55. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $49.21.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.52 billion. NiSource had a return on equity of 8.31% and a net margin of 14.15%.During the same period in the previous year, the company posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities analysts forecast that NiSource, Inc will post 2.08 EPS for the current fiscal year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s dividend payout ratio (DPR) is currently 59.70%.

Insider Activity at NiSource

In other news, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total value of $715,200.00. Following the sale, the executive vice president directly owned 35,990 shares in the company, valued at $1,716,003.20. This trade represents a 29.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melody Birmingham sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total transaction of $118,575.00. Following the completion of the sale, the executive vice president directly owned 116,036 shares in the company, valued at approximately $5,503,587.48. This represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,500 shares of company stock worth $1,305,675 in the last 90 days. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays boosted their target price on NiSource from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Royal Bank Of Canada initiated coverage on NiSource in a report on Wednesday, July 1st. They set an “outperform” rating and a $52.00 price objective on the stock. Evercore set a $52.00 price objective on NiSource in a research report on Monday, May 11th. BMO Capital Markets lowered their target price on NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, Wells Fargo & Company raised their target price on shares of NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.30.

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.