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

Key Points

• HITE Hedge Asset Management cut its NiSource stake by 14.7% in the fourth quarter, but still held 1.42 million shares valued at about $59.3 million, making NI its fifth-largest holding.
• Wall Street remains broadly positive on NiSource, with a Moderate Buy consensus rating and an average price target of $50.33; several firms recently raised targets, including Wells Fargo to $52.
• NiSource reported Q1 EPS of $1.06, matching estimates, and reiterated FY2026 guidance of $2.02 to $2.07 EPS. The company also announced a quarterly dividend of $0.30 per share, or $1.20 annualized, for a 2.5% yield.

HITE Hedge Asset Management LLC trimmed its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,420,828 shares of the utilities provider's stock after selling 244,630 shares during the quarter. NiSource makes up 3.8% of HITE Hedge Asset Management LLC's holdings, making the stock its 5th biggest holding. HITE Hedge Asset Management LLC owned about 0.30% of NiSource worth $59,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in NI. NewEdge Advisors LLC increased its holdings in NiSource by 60.1% in the first quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider's stock worth $1,223,000 after purchasing an additional 11,452 shares in the last quarter. Woodline Partners LP increased its holdings in NiSource by 41.6% in the first quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider's stock worth $1,592,000 after purchasing an additional 11,671 shares in the last quarter. Acadian Asset Management LLC bought a new stake in NiSource in the first quarter worth approximately $105,000. Bank of Nova Scotia increased its holdings in NiSource by 0.5% in the second quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider's stock worth $1,986,000 after purchasing an additional 266 shares in the last quarter. Finally, AXA S.A. bought a new stake in NiSource in the second quarter worth approximately $1,054,000. 91.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NI shares. Wells Fargo & Company lifted their target price on NiSource from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Evercore set a $52.00 target price on NiSource in a report on Monday, May 11th. Weiss Ratings downgraded NiSource from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, April 24th. Citigroup lifted their target price on NiSource from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Finally, Barclays lifted their target price on NiSource from $45.00 to $49.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. One 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's stock. According to data from MarketBeat, NiSource has a consensus rating of "Moderate Buy" and an average price target of $50.33.

Insider Activity at NiSource

In other news, EVP Melody Birmingham sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total transaction of $118,575.00. Following the completion of the sale, the executive vice president owned 116,036 shares in the company, valued at $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 is available through this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total value of $715,200.00. Following the sale, the executive vice president owned 35,990 shares of the company's stock, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,500 shares of company stock valued at $1,305,675. Corporate insiders own 0.37% of the company's stock.

NiSource Trading Up 1.2%

NYSE NI opened at $47.17 on Friday. The company has a market cap of $22.61 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 3.72 and a beta of 0.54. NiSource, Inc has a 52 week low of $38.45 and a 52 week high of $48.98. The business has a 50 day moving average price of $47.24 and a 200-day moving average price of $45.22. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities analysts expect that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Announces Dividend

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

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.

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