NiSource (NYSE:NI) Updates FY24 Earnings Guidance

NiSource (NYSE:NI) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.70-1.74 for the period, compared to the consensus earnings per share estimate of $1.73. NiSource also updated its FY 2024 guidance to 1.700-1.740 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Mizuho boosted their price objective on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company boosted their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, NiSource has an average rating of “Moderate Buy” and a consensus price target of $37.50.

NiSource Stock Performance

NiSource stock traded down $0.67 during trading on Friday, hitting $34.49. The stock had a trading volume of 3,135,337 shares, compared to its average volume of 4,035,585. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.92 and a beta of 0.51. The stock’s 50 day moving average is $34.14 and its two-hundred day moving average is $31.03. NiSource has a 1 year low of $24.58 and a 1 year high of $35.48. The company has a quick ratio of 0.63, a current ratio of 0.46 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share 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 firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts predict that NiSource will post 1.73 EPS for the current year.

NiSource Announces Dividend

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

NiSource Company Profile

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.