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 EPS guidance of 1.700-1.740 for the period, compared to the consensus EPS estimate of 1.710. The company issued revenue guidance of -. NiSource also updated its FY24 guidance to $1.70-1.74 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NI shares. Barclays lifted their price objective on shares of NiSource from $28.00 to $29.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of NiSource from a sell rating to a hold rating in a research report on Saturday, February 24th.

NiSource Stock Performance

Shares of NI traded down $0.31 during midday trading on Wednesday, hitting $28.74. 2,426,681 shares of the stock traded hands, compared to its average volume of 4,208,866. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.76 and a current ratio of 0.85. NiSource has a 1-year low of $22.86 and a 1-year high of $29.17. The business’s 50 day moving average price is $27.29 and its two-hundred day moving average price is $26.43. The firm has a market capitalization of $12.88 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 2.78 and a beta of 0.49.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. NiSource had a return on equity of 10.10% and a net margin of 12.98%. During the same period last year, the business posted $0.77 earnings per share. Equities research analysts predict that NiSource will post 1.71 EPS for the current fiscal year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Monday, April 29th. NiSource’s payout ratio is currently 72.11%.

Insider Transactions at NiSource

In related news, SVP Melanie B. Berman sold 11,141 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total value of $297,019.06. Following the completion of the transaction, the senior vice president now owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.