NiSource (NYSE:NI) Releases FY 2024 Earnings Guidance

NiSource (NYSE:NI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.700-1.740 for the period, compared to the consensus estimate of 1.730. The company issued revenue guidance of -. NiSource also updated its FY 2025 guidance to 1.840-1.880 EPS.

NiSource Price Performance

NiSource stock traded down $0.67 during trading hours on Friday, hitting $34.49. The stock had a trading volume of 3,135,337 shares, compared to its average volume of 4,035,585. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.92 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.63. NiSource has a 1-year low of $24.58 and a 1-year high of $35.48. The stock’s fifty day moving average is $34.14 and its two-hundred day moving average is $31.03.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts predict that NiSource will post 1.73 earnings per share for the current fiscal year.

NiSource Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Wells Fargo & Company boosted their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on shares of NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of NiSource in a research note on Monday. They issued a “buy” rating and a $39.00 target price for the company. Finally, Mizuho increased their price target on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

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.