Principal Financial Group Inc. Raises Position in NiSource, Inc (NI)
Principal Financial Group Inc. increased its position in shares of NiSource, Inc (NYSE:NI) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 502,702 shares of the utilities provider’s stock after purchasing an additional 4,807 shares during the quarter. Principal Financial Group Inc. owned 0.15% of NiSource worth $12,748,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. CENTRAL TRUST Co raised its holdings in NiSource by 454.0% during the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 4,785 shares during the last quarter. LSV Asset Management acquired a new position in NiSource during the first quarter worth $159,000. Ameritas Investment Partners Inc. acquired a new position in NiSource during the first quarter worth $183,000. Conning Inc. acquired a new position in NiSource during the second quarter worth $206,000. Finally, Laurion Capital Management LP acquired a new position in NiSource during the first quarter worth $202,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
NiSource, Inc (NI) opened at 26.12 on Friday. NiSource, Inc has a 12-month low of $21.17 and a 12-month high of $27.29. The firm has a market capitalization of $8.51 billion, a PE ratio of 30.30 and a beta of 0.39. The stock has a 50 day moving average price of $26.75 and a 200-day moving average price of $25.30.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The company had revenue of $990.70 million during the quarter, compared to the consensus estimate of $934.95 million. During the same quarter in the prior year, the firm earned $0.09 EPS. On average, equities research analysts forecast that NiSource, Inc will post $1.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.67%. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
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A number of equities analysts have recently weighed in on NI shares. KeyCorp reissued a “buy” rating and issued a $29.50 price target on shares of NiSource in a report on Friday, September 1st. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday, June 13th. Wells Fargo & Company started coverage on NiSource in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Barclays PLC reissued an “equal weight” rating and issued a $26.00 price target (up from $25.00) on shares of NiSource in a report on Thursday, June 1st. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.61.
In related news, Director Michael E. Jesanis acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $26.44 per share, for a total transaction of $52,880.00. Following the transaction, the director now owns 34,195 shares of the company’s stock, valued at $904,115.80. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.
NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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