Verition Fund Management LLC Decreases Stock Holdings in NiSource, Inc $NI

Key Points

• Verition Fund Management sharply cut its NiSource stake in the fourth quarter, selling 746,333 shares and reducing its holdings by 65.2% to 398,377 shares valued at about $16.6 million.
• NiSource reported EPS of $1.06 for the quarter, matching analyst expectations, though revenue of $2.36 billion came in below the consensus estimate of $2.52 billion. The company also guided FY 2026 EPS to $2.02-$2.07.
• The company declared a quarterly dividend of $0.30 per share, equivalent to an annualized yield of 2.5%. Meanwhile, analysts remain broadly positive, with an average rating of Moderate Buy and an average price target of $50.33.

Verition Fund Management LLC trimmed its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 65.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 398,377 shares of the utilities provider's stock after selling 746,333 shares during the quarter. Verition Fund Management LLC owned 0.08% of NiSource worth $16,636,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NI. MML Investors Services LLC raised its stake in shares of NiSource by 8.3% in the fourth quarter. MML Investors Services LLC now owns 20,857 shares of the utilities provider's stock valued at $871,000 after buying an additional 1,601 shares during the period. Mariner LLC grew its position in shares of NiSource by 105.1% in the fourth quarter. Mariner LLC now owns 18,305 shares of the utilities provider's stock valued at $763,000 after purchasing an additional 9,379 shares in the last quarter. Fieldview Capital Management LLC purchased a new position in shares of NiSource in the fourth quarter valued at $376,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in NiSource by 1.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,864 shares of the utilities provider's stock worth $788,000 after buying an additional 225 shares in the last quarter. Finally, Horizon Investment Services LLC grew its position in NiSource by 2.7% during the fourth quarter. Horizon Investment Services LLC now owns 11,092 shares of the utilities provider's stock worth $463,000 after buying an additional 293 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Performance

NiSource stock opened at $47.46 on Tuesday. The stock's 50 day moving average is $47.24 and its 200 day moving average is $45.26. 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, Inc has a twelve month low of $38.45 and a twelve month high of $48.98. The company has a market capitalization of $22.76 billion, a P/E ratio of 23.61, a PEG ratio of 3.77 and a beta of 0.55.

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

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, July 31st will be paid 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 is Friday, July 31st. NiSource's dividend payout ratio (DPR) is 59.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NI shares. Wells Fargo & Company boosted their target price on NiSource from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Citigroup increased their price objective on NiSource from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Barclays raised their target price on NiSource from $45.00 to $49.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. KeyCorp assumed coverage on NiSource in a research note on Tuesday, March 31st. They issued an "overweight" rating and a $52.00 price target for the company. Finally, Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.33.

Insiders Place Their Bets

In other news, EVP Melanie B. Berman sold 15,000 shares of the firm's 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 directly owned 35,990 shares in the company, valued at $1,716,003.20. This trade represents a 29.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Melody Birmingham sold 10,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total value of $471,900.00. Following the completion of the transaction, the executive vice president directly owned 117,899 shares in the company, valued at approximately $5,563,653.81. This represents a 7.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 27,500 shares of company stock worth $1,305,675. Company insiders own 0.37% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.