Eventide Asset Management LLC Raises Stock Holdings in NiSource, Inc $NI

Eventide Asset Management LLC grew its stake in NiSource, Inc (NYSE:NI) by 98.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,133,220 shares of the utilities provider’s stock after buying an additional 562,451 shares during the quarter. Eventide Asset Management LLC owned approximately 0.24% of NiSource worth $47,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in NiSource by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock worth $2,606,180,000 after buying an additional 1,032,630 shares in the last quarter. State Street Corp increased its position in NiSource by 4.5% in the fourth quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock worth $1,116,459,000 after buying an additional 1,154,351 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in NiSource by 55,625.2% in the second quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock worth $680,411,000 after buying an additional 16,836,630 shares in the last quarter. Geode Capital Management LLC increased its position in NiSource by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 12,459,421 shares of the utilities provider’s stock worth $518,301,000 after buying an additional 245,110 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in NiSource by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 8,495,320 shares of the utilities provider’s stock worth $367,852,000 after buying an additional 183,203 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity at NiSource

In other NiSource news, EVP Melody Birmingham sold 2,500 shares of the firm’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 transaction, the executive vice president directly owned 116,036 shares in the company, valued at $5,503,587.48. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total value of $715,200.00. Following the transaction, the executive vice president owned 35,990 shares in the company, valued at $1,716,003.20. The trade was a 29.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,500 shares of company stock valued at $1,305,675 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup upped their price target on NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings cut NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Barclays increased their target price on NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Wells Fargo & Company increased their target price on NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $51.00 target price on shares of NiSource in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and an average target price of $50.33.

NiSource Price Performance

NYSE:NI opened at $47.17 on Friday. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 3.77 and a beta of 0.54. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $48.98. The business has a 50 day simple moving average of $47.24 and a 200-day simple moving average of $45.22. 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 posted 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 business had revenue of $2.36 billion during 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 last year, the company earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities analysts forecast 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 Thursday, August 20th. Stockholders of record on Friday, July 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s dividend payout ratio (DPR) 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.