Alyeska Investment Group L.P. Boosts Stake in NiSource, Inc $NI

Key Points

• Alyeska Investment Group increased its NiSource stake by 19.7% in the second quarter, purchasing 52,443 additional shares for a total position of 318,050 shares valued at approximately $15.1 million.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $49.64, despite several recent target-price reductions.
• NiSource reported quarterly revenue of $1.34 billion and earnings of $0.16 per share, while maintaining annualized dividend payments of $1.20 per share, representing a 2.9% yield.

Alyeska Investment Group L.P. boosted its stake in NiSource, Inc (NYSE:NI - Free Report) by 19.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 318,050 shares of the utilities provider's stock after purchasing an additional 52,443 shares during the period. Alyeska Investment Group L.P. owned about 0.07% of NiSource worth $15,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new position in shares of NiSource during the second quarter worth $26,000. Zions Bancorporation National Association UT raised its holdings in shares of NiSource by 113.8% in the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider's stock valued at $26,000 after buying 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 position in NiSource during the 4th quarter worth about $27,000. Finally, DV Equities LLC acquired a new position in NiSource during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NI. Evercore set a $52.00 target price on NiSource in a report on Monday, May 11th. Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Mizuho reduced their price target on shares of NiSource from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 26th. BMO Capital Markets dropped their price objective on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Finally, KeyCorp cut their target price on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, NiSource currently has an average rating of "Moderate Buy" and an average price target of $49.64.

NiSource Stock Performance

Shares of NI opened at $40.91 on Tuesday. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $49.21. The stock has a market capitalization of $19.62 billion, a PE ratio of 21.76, a PEG ratio of 3.02 and a beta of 0.55. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50. The stock has a 50-day simple moving average of $44.69 and a 200-day simple moving average of $46.13.

NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.15 billion. NiSource had a net margin of 13.20% and a return on equity of 7.95%. During the same period in the prior year, the firm earned $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, analysts predict that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. NiSource's dividend payout ratio is currently 63.83%.

Insider Activity at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $42.40, for a total value of $1,590,381.60. Following the sale, the executive vice president directly owned 78,527 shares in the company, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.37% of the company's stock.

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.

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