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 guidance of 1.700-1.740 for the period, compared to the consensus earnings per share estimate of 1.730. The company issued revenue guidance of -. NiSource also updated its FY 2025 guidance to 1.840-1.880 EPS.

NiSource Trading Up 4.3 %

Shares of NI stock opened at $35.90 on Wednesday. The stock’s fifty day moving average is $33.99 and its two-hundred day moving average is $30.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.78. The firm has a market capitalization of $16.10 billion, a P/E ratio of 21.12, a PEG ratio of 2.91 and a beta of 0.51. NiSource has a fifty-two week low of $24.58 and a fifty-two week high of $35.90.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $0.11 EPS. Research analysts expect that NiSource will post 1.72 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, October 31st. NiSource’s dividend payout ratio is currently 65.03%.

Analyst Upgrades and Downgrades

NI has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Barclays boosted their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Mizuho assumed coverage on NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price on the stock. Wells Fargo & Company boosted their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Bank of America began coverage on NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price objective for the company. One investment 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, NiSource currently has a consensus rating of “Moderate Buy” and an average target price of $36.63.

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.