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 Trading Down 1.9 %

Shares of NiSource stock opened at $34.49 on Friday. NiSource has a 1 year low of $24.58 and a 1 year high of $35.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.63 and a current ratio of 0.46. The company has a market capitalization of $15.47 billion, a P/E ratio of 20.90, a PEG ratio of 2.92 and a beta of 0.51. The company’s fifty day moving average is $34.14 and its two-hundred day moving average is $31.03.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $986.00 million. During the same period last year, the firm posted $0.19 EPS. NiSource’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts forecast that NiSource will post 1.73 earnings per share for the current year.

NiSource Dividend Announcement

The company also recently announced 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. This represents a $1.06 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, October 31st. NiSource’s payout ratio is 64.24%.

Analyst Ratings Changes

NI has been the topic of several analyst reports. Bank of America initiated coverage on shares of NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 target price on the stock. Barclays boosted their price objective on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI boosted their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company boosted their price objective on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.