NiSource (NYSE:NI) Updates FY 2023 Earnings Guidance

NiSource (NYSE:NIGet Rating) updated its FY 2023 earnings guidance on Monday. The company provided earnings per share guidance of $1.50-$1.57 for the period, compared to the consensus earnings per share estimate of $1.55. The company issued revenue guidance of -. NiSource also updated its FY 2022 guidance to $1.44-$1.46 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Guggenheim lowered their price objective on NiSource from $32.00 to $27.00 in a research report on Monday, October 24th. Credit Suisse Group raised NiSource from a neutral rating to an outperform rating and set a $27.00 price objective for the company in a report on Wednesday, November 9th. BMO Capital Markets lifted their target price on shares of NiSource from $32.00 to $34.00 and gave the company an outperform rating in a research report on Thursday, August 4th. Wells Fargo & Company decreased their price target on shares of NiSource from $31.00 to $28.00 and set an overweight rating on the stock in a report on Tuesday, November 8th. Finally, Edward Jones raised shares of NiSource from a hold rating to a buy rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $29.43.

NiSource Price Performance

NI stock opened at $27.18 on Thursday. The firm has a market cap of $11.04 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.71 and a beta of 0.45. The firm’s fifty day moving average is $26.00 and its 200 day moving average is $28.49. NiSource has a 52 week low of $23.78 and a 52 week high of $32.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.37 and a current ratio of 0.57.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NI. Toroso Investments LLC boosted its holdings in NiSource by 6.5% during the 3rd quarter. Toroso Investments LLC now owns 13,846 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 847 shares during the period. Captrust Financial Advisors boosted its stake in shares of NiSource by 2.3% during the third quarter. Captrust Financial Advisors now owns 30,282 shares of the utilities provider’s stock valued at $763,000 after purchasing an additional 687 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of NiSource by 4.9% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,548 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 684 shares during the last quarter. Kentucky Retirement Systems increased its stake in shares of NiSource by 5.5% in the third quarter. Kentucky Retirement Systems now owns 31,777 shares of the utilities provider’s stock worth $800,000 after buying an additional 1,659 shares during the period. Finally, Balyasny Asset Management LLC purchased a new position in shares of NiSource in the third quarter worth $19,696,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

About NiSource

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NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses on natural gas service and transportation for residential, commercial, and industrial customers.

See Also

Earnings History and Estimates for NiSource (NYSE:NI)

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