NiSource (NYSE:NI) Updates FY 2024 Earnings Guidance

NiSource (NYSE:NI) updated its FY 2024 earnings guidance on Wednesday. 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 Down 1.9 %

NYSE NI traded down $0.67 during mid-day trading on Friday, hitting $34.49. The company’s stock had a trading volume of 3,135,337 shares, compared to its average volume of 4,035,585. The firm has a market capitalization of $15.47 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.92 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.63. NiSource has a 52-week low of $24.58 and a 52-week high of $35.48. The stock’s fifty day simple moving average is $34.14 and its two-hundred day simple moving average is $31.03.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $986.00 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Research analysts expect that NiSource will post 1.73 EPS for the current year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, October 31st. NiSource’s payout ratio is 64.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America started coverage on NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target on the stock. Wells Fargo & Company upped their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their price target on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Mizuho boosted their price objective on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BMO Capital Markets raised their target price on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.