NiSource (NYSE:NI) Releases FY 2024 Earnings Guidance

NiSource (NYSE:NI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.700-1.740 for the period, compared to the consensus earnings per share estimate of 1.710. The company issued revenue guidance of -. NiSource also updated its FY24 guidance to $1.70-1.74 EPS.

NiSource Stock Performance

Shares of NYSE:NI traded down $0.22 on Friday, hitting $28.68. 4,425,624 shares of the company were exchanged, compared to its average volume of 4,289,820. The firm has a market capitalization of $12.86 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 2.82 and a beta of 0.49. The company has a current ratio of 0.66, a quick ratio of 0.76 and a debt-to-equity ratio of 1.20. NiSource has a 1-year low of $22.86 and a 1-year high of $29.17. The stock’s 50 day moving average price is $27.46 and its 200 day moving average price is $26.49.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the company earned $0.77 earnings per share. Sell-side analysts predict that NiSource will post 1.71 EPS for the current year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be issued a $0.265 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.06 annualized dividend and a dividend yield of 3.70%. NiSource’s dividend payout ratio (DPR) is presently 69.28%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NI. Evercore ISI lifted their price objective on shares of NiSource from $30.00 to $32.00 and gave the company an outperform rating in a report on Thursday. StockNews.com raised NiSource from a sell rating to a hold rating in a report on Saturday, February 24th. BMO Capital Markets reiterated an outperform rating and set a $31.00 price target (up previously from $30.00) on shares of NiSource in a research report on Thursday. Finally, Barclays boosted their price objective on NiSource from $28.00 to $29.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $29.43.

Insider Transactions at NiSource

In other news, SVP Melanie B. Berman sold 11,141 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total value of $297,019.06. Following the transaction, the senior vice president now owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

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.