Eventide Asset Management LLC Increases Position in NiSource, Inc $NI

Eventide Asset Management LLC grew its stake in NiSource, Inc (NYSE:NI) by 98.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,133,220 shares of the utilities provider’s stock after acquiring an additional 562,451 shares during the quarter. Eventide Asset Management LLC’s holdings in NiSource were worth $47,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of NiSource by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock valued at $2,606,180,000 after acquiring an additional 1,032,630 shares during the period. State Street Corp increased its holdings in shares of NiSource by 4.5% in the 4th quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock valued at $1,116,459,000 after acquiring an additional 1,154,351 shares during the period. Orion Porfolio Solutions LLC increased its holdings in shares of NiSource by 55,625.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock valued at $680,411,000 after acquiring an additional 16,836,630 shares during the period. Geode Capital Management LLC grew its stake in NiSource by 2.0% during the 4th 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 during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in NiSource by 2.2% during the 3rd 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 during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on NI shares. Citigroup boosted their target price on NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen downgraded NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Wells Fargo & Company boosted their target price on NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. BMO Capital Markets restated an “outperform” rating and set a $51.00 target price on shares of NiSource in a research note on Monday, April 20th. Finally, Weiss Ratings downgraded NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.33.

NiSource Stock Performance

Shares of NI opened at $47.17 on Friday. The stock has a 50-day moving average of $47.24 and a two-hundred day moving average of $45.22. NiSource, Inc has a one year low of $38.45 and a one year high of $48.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65. The stock has a market cap of $22.61 billion, a P/E ratio of 23.47, a P/E/G ratio of 3.77 and a beta of 0.54.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, research analysts predict that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.5%. NiSource’s payout ratio is currently 59.70%.

Insider Transactions at NiSource

In other news, EVP Melody Birmingham sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 116,036 shares of the company’s stock, valued at $5,503,587.48. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $47.68, for a total value of $715,200.00. Following the completion of the transaction, the executive vice president directly owned 35,990 shares of the company’s stock, valued at approximately $1,716,003.20. This trade represents a 29.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 27,500 shares of company stock valued at $1,305,675. 0.37% of the stock is currently owned by insiders.

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.