NiSource (NYSE:NI) Updates 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.

Wall Street Analyst Weigh In

NI has been the subject of a number of analyst reports. Mizuho lifted their price target on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets boosted their price target on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Evercore ISI increased their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group started coverage on shares of NiSource in a research note on Monday. They issued a “buy” rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, NiSource has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

NiSource Trading Down 1.9 %

NI stock traded down $0.67 during trading on Friday, hitting $34.49. The company had a trading volume of 3,135,337 shares, compared to its average volume of 4,035,585. The company has a current ratio of 0.46, a quick ratio of 0.63 and a debt-to-equity ratio of 1.17. NiSource has a one year low of $24.58 and a one year high of $35.48. The business has a 50-day moving average of $34.14 and a 200-day moving average of $31.03. The stock has a market cap of $15.47 billion, a PE ratio of 20.90, a PEG ratio of 2.92 and a beta of 0.51.

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

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.07%. NiSource’s payout ratio is 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.