Equities research analysts expect NiSource Inc. (NYSE:NI) to post $0.04 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for NiSource’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.03. NiSource reported earnings of $0.10 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 60%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that NiSource will report full year earnings of $1.30 per share for the current financial year, with EPS estimates ranging from $1.29 to $1.31. For the next financial year, analysts anticipate that the firm will report earnings of $1.37 per share, with EPS estimates ranging from $1.34 to $1.39. Zacks’ EPS averages are an average based on a survey of research analysts that cover NiSource.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. NiSource had a net margin of 3.15% and a return on equity of 10.60%. During the same period last year, the firm posted $0.07 earnings per share.
Several brokerages recently commented on NI. Credit Suisse Group downgraded shares of NiSource from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 7th. Wolfe Research downgraded shares of NiSource from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. Zacks Investment Research downgraded shares of NiSource from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a research note on Wednesday, May 29th. Finally, Argus raised shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. NiSource presently has a consensus rating of “Hold” and a consensus target price of $28.48.
In other NiSource news, Director Michael E. Jesanis sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $29.01, for a total value of $174,060.00. Following the completion of the transaction, the director now owns 32,997 shares of the company’s stock, valued at approximately $957,242.97. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joseph W. Mulpas sold 12,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $29.78, for a total value of $357,360.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,405 shares of company stock worth $2,768,990. 0.35% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of NI. Nuveen Asset Management LLC purchased a new position in NiSource in the 2nd quarter worth about $77,273,000. Jennison Associates LLC increased its position in shares of NiSource by 73.1% during the 1st quarter. Jennison Associates LLC now owns 5,626,608 shares of the utilities provider’s stock valued at $161,259,000 after purchasing an additional 2,375,299 shares during the last quarter. Luminus Management LLC increased its position in shares of NiSource by 117.6% during the 2nd quarter. Luminus Management LLC now owns 2,666,933 shares of the utilities provider’s stock valued at $76,808,000 after purchasing an additional 1,441,055 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of NiSource by 32.7% during the 1st quarter. Commonwealth Bank of Australia now owns 5,318,979 shares of the utilities provider’s stock valued at $152,428,000 after purchasing an additional 1,309,337 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of NiSource during the 2nd quarter valued at about $20,445,000. 92.17% of the stock is owned by institutional investors and hedge funds.
Shares of NI stock traded up $0.04 during trading hours on Friday, hitting $29.48. 2,861,247 shares of the company’s stock were exchanged, compared to its average volume of 2,296,353. The company has a market capitalization of $10.99 billion, a PE ratio of 22.68, a PEG ratio of 4.21 and a beta of 0.23. NiSource has a 12-month low of $24.19 and a 12-month high of $30.34. The business’s 50 day simple moving average is $29.23 and its 200-day simple moving average is $28.61. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.40.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Wednesday, October 30th. NiSource’s payout ratio is 61.54%.
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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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