The Heusler alloys Fe 2 NiZ (Z=Al, Ga, Si and Ge) have been synthesized and investigated focusing on the phase stability and the magnetic properties. The experimental and theoretical results reveal the covalent bonding originated from p-d hybridization takes an important role in these alloys, which dominates the stability of ordered structure but leads to the decline of the band splitting. The electronic structure shows the IV group main group element (Si and Ge) provides stronger covalent effect than that of the III group element (Al and Ga). It has been found that the variations of the physical parameters, lattice constants, critical ordering temperature, magnetic moments and Curie temperature, precisely follow these covalent characters.
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