Jennison Associates LLC Has $430.28 Million Stock Holdings in NiSource, Inc $NI

Jennison Associates LLC decreased its position in shares of NiSource, Inc (NYSE:NI) by 2.2% during the 1st quarter, Holdings Channel reports. The fund owned 9,221,560 shares of the utilities provider’s stock after selling 208,234 shares during the quarter. Jennison Associates LLC’s holdings in NiSource were worth $430,278,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in NiSource by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock valued at $2,606,180,000 after purchasing an additional 1,032,630 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of NiSource by 19.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider’s stock valued at $2,150,818,000 after buying an additional 8,240,227 shares during the period. State Street Corp grew its holdings in shares of NiSource by 4.5% in the 4th quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock valued at $1,116,459,000 after buying an additional 1,154,351 shares during the period. Orion Porfolio Solutions LLC increased its position in shares of NiSource by 55,625.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock valued at $680,411,000 after buying an additional 16,836,630 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of NiSource by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 12,459,421 shares of the utilities provider’s stock valued at $518,301,000 after buying an additional 245,110 shares in 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 $45.93 on Friday. The firm has a market cap of $22.02 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 3.42 and a beta of 0.55. The stock’s 50-day moving average is $46.99 and its 200-day moving average is $46.12. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. The business 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 period last year, the company earned $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities analysts predict that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently declared 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 of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. NiSource’s dividend payout ratio is 59.70%.

Insider Buying and Selling

In other news, EVP Melody Birmingham sold 10,000 shares of NiSource stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total value of $471,900.00. Following the sale, the executive vice president directly owned 117,899 shares in the company, valued at $5,563,653.81. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the business’s stock in a transaction 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 27,500 shares of company stock valued at $1,305,675. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets reduced their target price on NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company increased their price target on NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Barclays raised their price target on NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings cut NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Citigroup boosted their price objective on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, NiSource presently has an average rating of “Moderate Buy” and an average price target of $50.30.

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.