Pictet Asset Management Holding SA Sells 602,857 Shares of NiSource, Inc $NI

Pictet Asset Management Holding SA lowered its position in NiSource, Inc (NYSE:NI) by 11.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,811,924 shares of the utilities provider’s stock after selling 602,857 shares during the period. Pictet Asset Management Holding SA’s holdings in NiSource were worth $224,522,000 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 the business. Advisory Services Network LLC lifted its stake in NiSource by 1.5% in the fourth quarter. Advisory Services Network LLC now owns 15,171 shares of the utilities provider’s stock valued at $634,000 after acquiring an additional 220 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of NiSource by 1.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,864 shares of the utilities provider’s stock worth $788,000 after purchasing an additional 225 shares during the last quarter. Tower Bridge Advisors increased its stake in shares of NiSource by 1.1% during the 3rd quarter. Tower Bridge Advisors now owns 21,132 shares of the utilities provider’s stock worth $915,000 after purchasing an additional 232 shares during the last quarter. Choreo LLC raised its holdings in shares of NiSource by 2.7% during the 4th quarter. Choreo LLC now owns 8,769 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 234 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in shares of NiSource by 1.6% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 15,247 shares of the utilities provider’s stock valued at $637,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NI shares. Wells Fargo & Company upped their price objective on shares of NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Evercore set a $52.00 target price on NiSource in a report on Monday, May 11th. BMO Capital Markets restated an “outperform” rating and set a $51.00 target price on shares of NiSource in a report on Monday, April 20th. Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Citigroup upped their price target on NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. One research 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’s stock. Based on data from MarketBeat, NiSource currently has an average rating of “Moderate Buy” and an average price target of $50.33.

NiSource Trading Up 2.4%

NYSE:NI opened at $48.98 on Friday. The company’s 50 day moving average is $47.23 and its 200-day moving average is $45.54. 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 12 month low of $38.45 and a 12 month high of $49.08. The firm has a market cap of $23.48 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 3.92 and a beta of 0.54.

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 the consensus estimate 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 prior year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities analysts anticipate that NiSource, Inc will post 2.05 EPS for the current 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 issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, July 31st. NiSource’s dividend payout ratio is 59.70%.

Insider Transactions at NiSource

In other news, EVP Melody Birmingham sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total value of $118,575.00. Following the sale, the executive vice president directly owned 116,036 shares of the company’s stock, valued at approximately $5,503,587.48. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $47.68, for a total value of $715,200.00. Following the completion of the transaction, the executive vice president owned 35,990 shares in the company, valued at $1,716,003.20. The trade was a 29.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,500 shares of company stock valued at $1,305,675 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.

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.