Principal Financial Group Inc. Lowers Stock Position in NiSource, Inc $NI

Principal Financial Group Inc. lessened its stake in NiSource, Inc (NYSE:NI) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,801,647 shares of the utilities provider’s stock after selling 67,962 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of NiSource worth $78,012,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC grew its position in NiSource by 90.7% in the second quarter. Crewe Advisors LLC now owns 639 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 304 shares in the last quarter. Hantz Financial Services Inc. raised its position in NiSource by 2,668.0% during the second quarter. Hantz Financial Services Inc. now owns 692 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 667 shares in the last quarter. Country Trust Bank bought a new stake in NiSource during the second quarter worth about $28,000. Ameritas Advisory Services LLC purchased a new position in shares of NiSource in the 2nd quarter worth about $32,000. Finally, Quent Capital LLC purchased a new position in shares of NiSource in the 3rd quarter worth about $36,000. Institutional investors own 91.64% of the company’s stock.

NiSource Stock Performance

Shares of NYSE:NI opened at $43.92 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $42.54 and a 200-day moving average price of $42.47. The company has a market cap of $20.96 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 3.61 and a beta of 0.65. NiSource, Inc has a 12 month low of $35.64 and a 12 month high of $44.95.

NiSource Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 3rd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 3rd. This is a positive change from NiSource’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. NiSource’s payout ratio is 59.26%.

Analyst Upgrades and Downgrades

NI has been the subject of a number of recent research reports. Wall Street Zen downgraded NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Evercore ISI lifted their price target on shares of NiSource from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Mizuho upped their price objective on shares of NiSource from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Jefferies Financial Group raised shares of NiSource from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $50.00 in a report on Friday, October 31st. Finally, UBS Group boosted their price target on shares of NiSource from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Nine equities research analysts have rated the stock with a Buy rating and two have given 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 target price of $47.11.

Insider Activity at NiSource

In other news, EVP Kimberly S. Cuccia sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $43.13, for a total value of $345,040.00. Following the completion of the sale, the executive vice president directly owned 41,247 shares of the company’s stock, valued at approximately $1,778,983.11. This trade represents a 16.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% 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.