Sit Investment Associates Inc. Trims Holdings in NiSource, Inc $NI

Sit Investment Associates Inc. lowered its position in NiSource, Inc (NYSE:NI) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,866 shares of the utilities provider’s stock after selling 16,300 shares during the period. Sit Investment Associates Inc.’s holdings in NiSource were worth $8,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT lifted its stake in NiSource by 113.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 330 shares during the period. Strive Financial Group LLC purchased 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 about $27,000. DV Equities LLC acquired a new stake in NiSource during the fourth quarter worth about $28,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of NiSource during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. 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. Weiss Ratings cut shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Barclays boosted their price target on shares of NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Finally, KeyCorp began coverage on shares of NiSource in a research report on Tuesday, March 31st. They set an “overweight” rating and a $52.00 price objective for the company. 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 an average rating of “Moderate Buy” and a consensus price target of $50.33.

NiSource Trading Up 0.9%

NI stock opened at $47.20 on Friday. NiSource, Inc has a 12-month low of $38.45 and a 12-month high of $48.98. The business’s 50-day moving average is $47.22 and its 200 day moving average is $45.33. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The stock has a market cap of $22.63 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 3.73 and a beta of 0.54.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.52 billion. NiSource had a return on equity of 8.31% and a net margin of 14.15%.During the same quarter in the prior year, the firm earned $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, sell-side analysts anticipate that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Melody Birmingham sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were 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 approximately $5,503,587.48. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $47.68, for a total transaction of $715,200.00. Following the completion of the sale, the executive vice president owned 35,990 shares of the company’s stock, valued at approximately $1,716,003.20. The trade was a 29.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,500 shares of company stock valued at $1,305,675 in the last ninety days. Insiders own 0.37% of the company’s stock.

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.