NiSource (NYSE:NI) Releases Earnings Results, Beats Estimates By $0.02 EPS

NiSource (NYSE:NI) posted its quarterly earnings results on Wednesday. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02, Briefing.com reports. NiSource had a return on equity of 10.10% and a net margin of 12.98%. During the same quarter in the previous year, the company posted $0.77 earnings per share. NiSource updated its FY 2024 guidance to 1.700-1.740 EPS and its FY24 guidance to $1.70-1.74 EPS.

NiSource Price Performance

NI traded down $0.25 on Thursday, reaching $28.47. The stock had a trading volume of 885,052 shares, compared to its average volume of 4,212,271. NiSource has a fifty-two week low of $22.86 and a fifty-two week high of $29.17. The firm has a 50-day moving average of $27.35 and a 200-day moving average of $26.45. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 2.78 and a beta of 0.49.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.06 dividend on an annualized basis and a yield of 3.72%. NiSource’s payout ratio is presently 72.11%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other NiSource news, SVP Melanie B. Berman sold 11,141 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total value of $297,019.06. Following the sale, the senior vice president now owns 23,720 shares in the company, valued at approximately $632,375.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.