OP Asset Management Ltd Invests $2.63 Million in NiSource, Inc $NI

OP Asset Management Ltd purchased a new stake in NiSource, Inc (NYSE:NI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 56,354 shares of the utilities provider’s stock, valued at approximately $2,629,000.

Several other hedge funds also recently modified their holdings of NI. Assenagon Asset Management S.A. raised its position in NiSource by 70.8% in the first quarter. Assenagon Asset Management S.A. now owns 864,692 shares of the utilities provider’s stock valued at $40,347,000 after purchasing an additional 358,329 shares during the last quarter. Hanson & Doremus Investment Management increased its stake in shares of NiSource by 1.6% in the first quarter. Hanson & Doremus Investment Management now owns 100,942 shares of the utilities provider’s stock valued at $4,710,000 after buying an additional 1,638 shares during the period. Values First Advisors Inc. acquired a new position in shares of NiSource in the first quarter valued at approximately $305,000. SG Americas Securities LLC raised its holdings in NiSource by 21.0% in the 1st quarter. SG Americas Securities LLC now owns 237,527 shares of the utilities provider’s stock valued at $11,083,000 after buying an additional 41,290 shares during the last quarter. Finally, Evolve Private Wealth LLC raised its holdings in NiSource by 3.6% in the 1st quarter. Evolve Private Wealth LLC now owns 11,563 shares of the utilities provider’s stock valued at $540,000 after buying an additional 401 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Stock Performance

Shares of NiSource stock opened at $48.98 on Friday. The business has a 50-day moving average price of $47.23 and a two-hundred day moving average price of $45.54. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $49.08. 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 cap of $23.48 billion, a P/E ratio of 24.37, a PEG ratio of 3.92 and a beta of 0.54.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, analysts anticipate that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.4%. NiSource’s payout ratio is 59.70%.

Analysts Set New Price Targets

NI has been the topic of a number of research reports. KeyCorp initiated coverage on shares of NiSource in a report on Tuesday, March 31st. They set an “overweight” rating and a $52.00 target price on the stock. Citigroup raised their price target on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Barclays lifted their price target on shares of NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Weiss Ratings cut shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $51.00 price objective on shares of NiSource in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued 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 a consensus target price of $50.33.

Insider Activity at NiSource

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total transaction of $715,200.00. Following the transaction, the executive vice president directly 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 accessible through this link. Also, EVP Melody Birmingham sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total transaction of $471,900.00. Following the sale, the executive vice president directly owned 117,899 shares of the company’s stock, valued at approximately $5,563,653.81. This trade represents a 7.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 27,500 shares of company stock worth $1,305,675. Insiders own 0.37% of the company’s stock.

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.