Assenagon Asset Management S.A. Lowers Stock Position in NiSource, Inc $NI

Key Points

• Assenagon Asset Management cut its NiSource position by 25.8% in the second quarter, selling 223,363 shares and retaining 641,329 shares valued at approximately $30.5 million. Institutional investors still own 91.64% of the company.
• NiSource reported quarterly earnings of $0.16 per share, matching estimates, while revenue of $1.34 billion exceeded the $1.15 billion consensus. The company maintained fiscal 2026 EPS guidance of $2.02–$2.07.
• The utility declared a quarterly dividend of $0.30 per share, equivalent to a 2.8% annualized yield. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $49.70 versus the stock’s $42.69 opening price.

Assenagon Asset Management S.A. lessened its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 25.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 641,329 shares of the utilities provider's stock after selling 223,363 shares during the period. Assenagon Asset Management S.A. owned 0.13% of NiSource worth $30,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Orion Porfolio Solutions LLC boosted its stake 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 acquiring an additional 16,836,630 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of NiSource by 19.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider's stock worth $2,150,818,000 after purchasing an additional 8,240,227 shares in the last quarter. Norges Bank purchased a new stake in shares of NiSource in the 4th quarter worth approximately $336,852,000. Millennium Management LLC grew its stake in shares of NiSource by 2,288.8% in the 3rd 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 during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in NiSource during the 4th quarter valued at approximately $100,965,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melody Birmingham sold 2,500 shares of the firm'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 sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,500 shares of company stock valued at $1,305,675 over the last quarter. 0.37% of the stock is owned by corporate insiders.

NiSource Stock Performance

Shares of NI opened at $42.69 on Friday. The business's fifty day simple moving average is $46.33 and its two-hundred day simple moving average is $46.40. The company has a current ratio of 0.50, a quick ratio of 0.56 and a debt-to-equity ratio of 1.31. NiSource, Inc has a 12 month low of $38.45 and a 12 month high of $49.21. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 3.17 and a beta of 0.55.

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

NiSource Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, July 31st. NiSource's dividend payout ratio (DPR) is presently 63.83%.

Analysts Set New Price Targets

A number of research analysts have issued reports on NI shares. BMO Capital Markets lowered their price objective on NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Weiss Ratings restated a "buy (b)" rating on shares of NiSource in a report on Tuesday, July 21st. Evercore set a $52.00 price target on NiSource in a research report on Monday, May 11th. Barclays dropped their price target on shares of NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, KeyCorp cut their price objective on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.70.

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.

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