NiSource, Inc $NI Stake Lifted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its NiSource stake by 70.8% in Q1, ending with 864,692 shares worth about $40.3 million. Institutional investors remain heavily involved, owning 91.64% of the utility company’s stock.
• NiSource reported Q1 earnings of $1.06 per share, matching analyst estimates, though revenue of $2.36 billion came in below expectations. The company also reaffirmed FY2026 guidance of 2.020–2.070 EPS.
• The company declared a quarterly dividend of $0.30 per share to be paid on August 20, implying an annualized yield of about 2.5%. Analysts currently hold a consensus Moderate Buy rating with an average price target of $50.33.

Assenagon Asset Management S.A. lifted its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 70.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 864,692 shares of the utilities provider's stock after acquiring an additional 358,329 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of NiSource worth $40,347,000 at the end of the most recent reporting period.

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

Insider Activity at NiSource

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the company'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 transaction, the executive vice president owned 35,990 shares in the company, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melody Birmingham sold 2,500 shares of the 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 of the company's stock, 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. Over the last 90 days, insiders have sold 27,500 shares of company stock valued at $1,305,675. 0.37% of the stock is currently owned by corporate insiders.

NiSource Stock Performance

Shares of NI stock opened at $47.75 on Friday. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $48.98. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $22.89 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 3.80 and a beta of 0.54. The stock's fifty day simple moving average is $47.19 and its 200-day simple moving average is $45.52.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) 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 firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, sell-side analysts predict that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Evercore set a $52.00 target price on shares of NiSource in a report on Monday, May 11th. Weiss Ratings lowered shares of NiSource from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. BMO Capital Markets reiterated an "outperform" rating and set a $51.00 price objective on shares of NiSource in a research report on Monday, April 20th. Finally, KeyCorp began coverage on NiSource in a research note on Tuesday, March 31st. They set an "overweight" rating and a $52.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, NiSource has a consensus rating of "Moderate Buy" and a consensus target price of $50.33.

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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