NiSource (NYSE:NI) Issues FY24 Earnings Guidance

NiSource (NYSE:NI) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $1.70-1.74 for the period, compared to the consensus EPS estimate of $1.73. NiSource also updated its FY 2024 guidance to 1.700-1.740 EPS.

Analyst Ratings Changes

Several brokerages have recently issued reports on NI. Evercore ISI upped their price target on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Barclays upped their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group began coverage on NiSource in a research note on Monday. They set a “buy” rating and a $39.00 price target on the stock. Wells Fargo & Company upped their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Mizuho upped their price target on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

NiSource Stock Down 1.9 %

NYSE NI traded down $0.67 during trading hours on Friday, hitting $34.49. 3,135,337 shares of the company traded hands, compared to its average volume of 4,035,585. The business’s 50-day moving average is $34.14 and its 200-day moving average is $31.03. NiSource has a twelve month low of $24.58 and a twelve month high of $35.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.63 and a current ratio of 0.46. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.92 and a beta of 0.51.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. Sell-side analysts anticipate that NiSource will post 1.73 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.07%. NiSource’s dividend payout ratio (DPR) is presently 64.24%.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.