13FPulse
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NI

NI NISOURCE INC

2026Q2 · CUSIP 65473P105 · Sector: Utilities

Cooling

Net holder growth weakened from last quarter

Funds that own it
891
Institutions that reported holding it to the SEC
Net increase in holders
+15
Last quarter 876 → now 891
How unusual is that
Above average
Stronger buying than 78% of US stocks
What the filings say, in one paragraph

891 funds held NI at the end of 2026Q2, up 15 from the quarter before. Buying has come off its highs, but funds are not exiting. On the business itself, the P/E is 21.9x, return on equity is 9.4%. NI has had 22 buying rushes in its history, and the price moved +4.2% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Utilities sector.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2013Q3: holders=354 2013Q4: holders=383 2014Q1: holders=386 2014Q2: holders=384 2014Q3: holders=405 2014Q4: holders=417 2015Q1: holders=418 2015Q2: holders=445 2015Q3: holders=370 2015Q4: holders=386 2016Q1: holders=417 2016Q2: holders=432 2016Q3: holders=442 2016Q4: holders=439 2017Q1: holders=435 2017Q2: holders=441 2017Q3: holders=438 2017Q4: holders=470 2018Q1: holders=464 2018Q2: holders=459 2018Q3: holders=459 2018Q4: holders=470 2019Q1: holders=474 2019Q2: holders=479 2019Q3: holders=478 2019Q4: holders=491 2020Q1: holders=467 2020Q2: holders=450 2020Q3: holders=451 2020Q4: holders=458 2021Q1: holders=481 2021Q2: holders=503 2021Q3: holders=486 2021Q4: holders=515 2022Q1: holders=526 2022Q2: holders=530 2022Q3: holders=535 2022Q4: holders=570 2023Q1: holders=587 2023Q2: holders=559 2023Q3: holders=580 2023Q4: holders=607 2024Q1: holders=631 2024Q2: holders=634 2024Q3: holders=681 2024Q4: holders=733 2025Q1: holders=793 2025Q2: holders=769 2025Q3: holders=783 2025Q4: holders=830 2026Q1: holders=876 2026Q2: holders=891 -75 -37.5 +0 +37.5 +75 318627936 13Q315Q116Q318Q119Q321Q122Q324Q125Q326Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 22 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2026Q1 Top 10% +1.1% —
2025Q4 Top 20% +4.0% +3.3%
2025Q1 Top 5% -0.7% +6.6%
2024Q4 Top 10% +2.4% -0.8%
2024Q3 Top 5% -3.4% +9.7%
2024Q1 Top 20% -2.4% +10.9%
2023Q3 Top 10% +4.2% +2.0%
2023Q1 Top 10% +1.6% -3.6%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
304
Change in large funds
+24
Total value they hold
$21.8B
Funds buying for the first time
107
Funds that sold out entirely
92
Price change that quarter
-11.0%
Funds holding puts (bearish)
5
Funds holding calls (bullish)
5

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
21.9
EPS (TTM)
$1.88
EPS YoY
0.0%
Revenue (TTM)
—
Revenue YoY
—
Net margin
—
ROE
9.4%
Debt ratio
74.5%
FCF (TTM)
-$1.1B
Dividend (TTM)
$1.18
Quarterly Revenue & EPS
2021-09-30: EPS 0.12 2021-12-31: EPS 0.32 2022-03-31: EPS 0.94 2022-06-30: EPS 0.12 2022-09-30: EPS 0.12 2022-12-31: EPS 0.52 2023-03-31: EPS 0.71 2023-06-30: EPS 0.09 2023-09-30: EPS 0.17 2023-12-31: EPS 0.51 2024-03-31: EPS 0.77 2024-06-30: EPS 0.19 2024-09-30: EPS 0.19 2024-12-31: EPS 0.47 2025-03-31: EPS 1.00 2025-06-30: EPS 0.22 2025-09-30: EPS 0.20 2025-12-31: EPS 0.53 2026-03-31: EPS 1.06 2026-06-30: EPS 0.09 0.00 0.58 1.17 20212022202320242025202606/26 EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
4Y median 19 13 19 25 20222023202420252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-909M-390M130M 20162017201820192020202120222023202420252026
Latest quarter $-363M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

Email me the next update

2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.