Jefferies Group Weighs in on NiSource Inc.’s Q1 2017 Earnings (NI)
NiSource Inc. (NYSE:NI) – Equities research analysts at Jefferies Group boosted their Q1 2017 EPS estimates for NiSource in a research note issued on Wednesday. Jefferies Group analyst C. Sighinolfi now expects that the utilities provider will post earnings per share of $0.69 for the quarter, up from their prior estimate of $0.63. Jefferies Group currently has a “Hold” rating and a $23.00 price objective on the stock. Jefferies Group also issued estimates for NiSource’s FY2017 earnings at $1.18 EPS and FY2018 earnings at $1.24 EPS.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, February 22nd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.04 billion. NiSource had a return on equity of 8.76% and a net margin of 6.87%. During the same period in the prior year, the firm posted $0.31 earnings per share. TRADEMARK VIOLATION WARNING: “Jefferies Group Weighs in on NiSource Inc.’s Q1 2017 Earnings (NI)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/04/20/jefferies-group-weighs-in-on-nisource-inc-s-q1-2017-earnings-ni.html.
A number of other equities research analysts also recently commented on NI. Zacks Investment Research downgraded NiSource from a “hold” rating to a “sell” rating in a research report on Tuesday, January 31st. Guggenheim upgraded NiSource from a “neutral” rating to a “buy” rating in a research report on Monday, January 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $25.09.
This article was originally published by and is the sole property of American Banking News. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/04/20/jefferies-group-weighs-in-on-nisource-inc-s-q1-2017-earnings-ni.html
NiSource (NYSE:NI) opened at 24.23 on Thursday. The firm has a market capitalization of $7.84 billion, a PE ratio of 23.73 and a beta of 0.29. The company’s 50-day moving average price is $23.68 and its 200 day moving average price is $22.68. NiSource has a one year low of $21.17 and a one year high of $26.94.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Friday, April 28th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Wednesday, April 26th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.89%. NiSource’s payout ratio is currently 76.09%.
In other news, EVP Carrie J. Hightman sold 24,000 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $23.28, for a total value of $558,720.00. Following the completion of the sale, the executive vice president now owns 409,199 shares in the company, valued at $9,526,152.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph W. Mulpas sold 13,000 shares of the stock in a transaction on Friday, March 10th. The shares were sold at an average price of $23.28, for a total value of $302,640.00. Following the completion of the sale, the vice president now owns 37,889 shares of the company’s stock, valued at approximately $882,055.92. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. WFG Advisors LP raised its stake in NiSource by 14,596.4% in the fourth quarter. WFG Advisors LP now owns 4,115 shares of the utilities provider’s stock worth $104,000 after buying an additional 4,087 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in NiSource by 0.5% in the third quarter. TCI Wealth Advisors Inc. now owns 4,694 shares of the utilities provider’s stock worth $113,000 after buying an additional 23 shares during the last quarter. Financial Architects Inc raised its stake in NiSource by 4,163.5% in the third quarter. Financial Architects Inc now owns 4,903 shares of the utilities provider’s stock worth $118,000 after buying an additional 4,788 shares during the last quarter. First Financial Corp IN acquired a new stake in NiSource during the first quarter worth about $124,000. Finally, Capital Investment Advisors LLC acquired a new stake in NiSource during the first quarter worth about $203,000. Institutional investors own 83.27% of the company’s stock.
NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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