Envestnet Asset Management Inc. Decreases Stock Position in NiSource, Inc $NI

Envestnet Asset Management Inc. lowered its position in shares of NiSource, Inc (NYSE:NI) by 16.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,371 shares of the utilities provider’s stock after selling 102,109 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of NiSource worth $22,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NI. Orion Porfolio Solutions LLC increased its stake in NiSource by 55,625.2% during the 2nd 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 during the period. Norges Bank acquired a new stake in shares of NiSource during the second quarter valued at about $296,543,000. Soroban Capital Partners LP increased its position in shares of NiSource by 52.0% during the second quarter. Soroban Capital Partners LP now owns 4,434,245 shares of the utilities provider’s stock worth $178,877,000 after acquiring an additional 1,516,296 shares during the last quarter. Merewether Investment Management LP lifted its stake in shares of NiSource by 55.2% in the second quarter. Merewether Investment Management LP now owns 3,006,194 shares of the utilities provider’s stock worth $121,270,000 after acquiring an additional 1,069,363 shares in the last quarter. Finally, State Street Corp boosted its holdings in NiSource by 4.1% in the second quarter. State Street Corp now owns 24,726,001 shares of the utilities provider’s stock valued at $997,447,000 after purchasing an additional 965,718 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Price Performance

Shares of NYSE NI opened at $46.34 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.69 and a quick ratio of 0.39. The firm has a market capitalization of $22.18 billion, a PE ratio of 23.77, a P/E/G ratio of 3.71 and a beta of 0.65. NiSource, Inc has a 1-year low of $35.64 and a 1-year high of $46.40. The business’s fifty day moving average price is $42.83 and its two-hundred day moving average price is $42.62.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, February 11th. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.20 billion. NiSource had a return on equity of 8.07% and a net margin of 13.99%.During the same quarter in the previous year, the company posted $0.49 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, research analysts expect that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 3rd will be paid a dividend of $0.30 per share. This is a boost from NiSource’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 3rd. NiSource’s dividend payout ratio (DPR) is currently 63.49%.

Insiders Place Their Bets

In other news, EVP Kimberly S. Cuccia sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $43.13, for a total transaction of $345,040.00. Following the completion of the sale, the executive vice president directly owned 41,247 shares of the company’s stock, valued at $1,778,983.11. This represents a 16.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

NI has been the subject of several research analyst reports. Mizuho increased their target price on NiSource from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Barclays set a $45.00 price target on shares of NiSource in a report on Monday, December 8th. Citigroup raised their price objective on shares of NiSource from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of NiSource in a research report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NiSource currently has a consensus rating of “Moderate Buy” and an average price target of $47.20.

About NiSource

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.