NiSource Inc. (NYSE:NI) – Jefferies Financial Group raised their FY2018 earnings per share estimates for shares of NiSource in a research note issued to investors on Friday, August 17th. Jefferies Financial Group analyst C. Sighinolfi now expects that the utilities provider will post earnings of $1.30 per share for the year, up from their previous forecast of $1.29. Jefferies Financial Group also issued estimates for NiSource’s Q4 2018 earnings at $0.44 EPS, FY2020 earnings at $1.49 EPS, FY2021 earnings at $1.60 EPS and FY2022 earnings at $1.68 EPS.
NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.39 million. NiSource had a return on equity of 9.19% and a net margin of 5.20%. During the same quarter in the previous year, the firm posted $0.10 EPS.
A number of other brokerages also recently weighed in on NI. Guggenheim reiterated a “buy” rating and issued a $28.00 target price on shares of NiSource in a report on Monday, July 23rd. KeyCorp upped their target price on NiSource from $26.00 to $27.00 and gave the company a “$26.15” rating in a report on Thursday, July 19th. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Barclays started coverage on NiSource in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $27.00 target price on the stock. Finally, ValuEngine upgraded NiSource from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. NiSource has an average rating of “Buy” and an average target price of $26.70.
NYSE NI opened at $27.60 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.38 and a current ratio of 0.51. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 3.76 and a beta of 0.21. NiSource has a 1 year low of $22.44 and a 1 year high of $27.76.
Large investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC bought a new stake in NiSource during the second quarter worth approximately $104,000. Tower Research Capital LLC TRC bought a new stake in NiSource during the second quarter worth approximately $105,000. Parallel Advisors LLC boosted its position in NiSource by 286.6% during the second quarter. Parallel Advisors LLC now owns 4,701 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 3,485 shares during the period. Optimum Investment Advisors bought a new stake in NiSource during the first quarter worth approximately $121,000. Finally, Advisors Asset Management Inc. bought a new stake in NiSource during the second quarter worth approximately $110,000. Hedge funds and other institutional investors own 83.49% of the company’s stock.
In related news, VP Peter T. Disser sold 6,732 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $24.67, for a total value of $166,078.44. Following the transaction, the vice president now owns 7,695 shares in the company, valued at $189,835.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carrie J. Hightman sold 27,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $26.75, for a total value of $722,250.00. Following the completion of the transaction, the executive vice president now owns 325,066 shares in the company, valued at approximately $8,695,515.50. The disclosure for this sale can be found here. Insiders sold 36,132 shares of company stock worth $951,928 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Wednesday, October 31st will be issued a $0.195 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $0.78 dividend on an annualized basis and a yield of 2.83%. NiSource’s dividend payout ratio is currently 64.46%.
NiSource Company Profile
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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