Jennison Associates LLC Sells 208,234 Shares of NiSource, Inc $NI

Key Points

• Jennison Associates trimmed its NiSource stake by 2.2% in the first quarter, selling 208,234 shares and leaving it with 9.22 million shares worth about $430.3 million.
• Several analysts remain positive on NiSource, with firms including Barclays, BMO Capital Markets, Wells Fargo, KeyCorp, and RBC maintaining or initiating Buy/Overweight/Outperform ratings and a consensus price target of $50.30.
• NiSource reported quarterly EPS of $1.06, matching estimates, and announced a $0.30 quarterly dividend payable on August 20, implying a 2.6% yield.

Jennison Associates LLC trimmed its position in shares of NiSource, Inc (NYSE:NI - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,221,560 shares of the utilities provider's stock after selling 208,234 shares during the quarter. Jennison Associates LLC owned approximately 1.92% of NiSource worth $430,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NI. Strive Financial Group LLC acquired a new stake in NiSource during the 4th quarter valued at $26,000. Zions Bancorporation National Association UT grew its holdings in NiSource by 113.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider's stock worth $26,000 after acquiring an additional 330 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in NiSource during the 4th quarter worth about $27,000. DV Equities LLC acquired a new stake in NiSource in the 4th quarter valued at about $28,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in NiSource in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NI shares. Barclays upped their target price on shares of NiSource from $45.00 to $49.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. BMO Capital Markets lowered their price target on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Friday. Wells Fargo & Company boosted their price objective on shares of NiSource from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. KeyCorp started coverage on NiSource in a report on Tuesday, March 31st. They set an "overweight" rating and a $52.00 price objective on the stock. Finally, Royal Bank Of Canada started coverage on NiSource in a research report on Wednesday, July 1st. They issued an "outperform" rating and a $52.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.30.

Insider Buying and Selling at NiSource

In other news, EVP Melanie B. Berman sold 15,000 shares of the 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 transaction, the executive vice president owned 35,990 shares of the company's stock, valued at $1,716,003.20. This represents a 29.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Melody Birmingham sold 2,500 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total value of $118,575.00. Following the completion of the transaction, the executive vice president owned 116,036 shares in the company, valued at $5,503,587.48. This represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,500 shares of company stock valued at $1,305,675 in the last quarter. Corporate insiders own 0.37% of the company's stock.

NiSource Stock Down 0.7%

Shares of NYSE NI opened at $45.93 on Friday. The firm has a market capitalization of $22.02 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 3.42 and a beta of 0.55. 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 $49.21. The firm's 50-day moving average is $46.99 and its 200-day moving average is $46.12.

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

NiSource Announces Dividend

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 given 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 2.6%. NiSource's payout ratio is presently 59.70%.

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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