HITE Hedge Asset Management LLC Has $59.33 Million Holdings in NiSource, Inc $NI

HITE Hedge Asset Management LLC lowered its stake in shares of NiSource, Inc (NYSE:NI) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,420,828 shares of the utilities provider’s stock after selling 244,630 shares during the quarter. NiSource accounts for 3.8% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. HITE Hedge Asset Management LLC’s holdings in NiSource were worth $59,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of NI. Orion Porfolio Solutions LLC grew its holdings in NiSource by 55,625.2% during 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. Norges Bank bought a new stake in NiSource during the fourth quarter worth $336,852,000. Millennium Management LLC grew its holdings in NiSource by 2,288.8% during the third quarter. Millennium Management LLC now owns 3,166,313 shares of the utilities provider’s stock worth $137,101,000 after buying an additional 3,033,764 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in NiSource during the fourth quarter worth $100,965,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in NiSource during the third quarter worth $84,086,000. Institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling at NiSource

In other NiSource news, EVP Melody Birmingham sold 10,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total value of $471,900.00. Following the transaction, the executive vice president owned 117,899 shares of the company’s stock, valued at approximately $5,563,653.81. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melanie B. Berman sold 15,000 shares of the business’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 completion of the transaction, the executive vice president directly owned 35,990 shares in the company, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 27,500 shares of company stock worth $1,305,675. Insiders own 0.37% of the company’s stock.

NiSource Stock Up 1.2%

NI stock opened at $47.17 on Friday. The stock’s fifty day simple moving average is $47.24 and its two-hundred day simple moving average is $45.22. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $48.98. The stock has a market cap of $22.61 billion, a P/E ratio of 23.47, a P/E/G ratio of 3.72 and a beta of 0.54.

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

NiSource Dividend Announcement

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

Analysts Set New Price Targets

NI has been the subject of several recent research reports. Barclays upped their price target on NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Wall Street Zen downgraded NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Evercore set a $52.00 price target on NiSource in a report on Monday, May 11th. BMO Capital Markets reiterated an “outperform” rating and set a $51.00 price target on shares of NiSource in a report on Monday, April 20th. Finally, Weiss Ratings downgraded NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.33.

NiSource 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.