NiSource Inc. (NI) to Post Q1 2017 Earnings of $0.65 Per Share, KeyCorp Forecasts
NiSource Inc. (NYSE:NI) – Research analysts at KeyCorp lifted their Q1 2017 earnings estimates for shares of NiSource in a research report issued on Tuesday. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will earn $0.65 per share for the quarter, up from their previous estimate of $0.62.
NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, February 22nd. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.01. NiSource had a return on equity of 8.76% and a net margin of 6.87%. The business earned $1.30 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.31 EPS. TRADEMARK VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/04/20/nisource-inc-ni-to-post-q1-2017-earnings-of-0-65-per-share-keycorp-forecasts.html.
NI has been the subject of several other research reports. Zacks Investment Research upgraded shares of NiSource from a “sell” rating to a “hold” rating and set a $26.00 target price for the company in a research note on Friday, March 10th. Guggenheim upgraded shares of NiSource from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. Finally, Jefferies Group LLC restated a “hold” rating and set a $23.00 price target on shares of NiSource in a research note on Friday, March 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. NiSource currently has a consensus rating of “Hold” and a consensus target price of $25.09.
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NiSource (NYSE:NI) opened at 24.23 on Thursday. NiSource has a 1-year low of $21.17 and a 1-year high of $26.94. The firm has a market cap of $7.84 billion, a PE ratio of 23.73 and a beta of 0.29. The company has a 50 day moving average price of $23.68 and a 200 day moving average price of $22.68.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Friday, April 28th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, April 26th. NiSource’s dividend payout ratio is 76.09%.
In other NiSource news, VP Joseph W. Mulpas sold 13,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $23.28, for a total transaction of $302,640.00. Following the completion of the transaction, the vice president now owns 37,889 shares in the company, valued at $882,055.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Carrie J. Hightman sold 24,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $23.28, for a total transaction of $558,720.00. Following the transaction, the executive vice president now owns 409,199 shares of the company’s stock, valued at approximately $9,526,152.72. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in NiSource during the fourth quarter valued at $69,268,000. Renaissance Technologies LLC raised its stake in NiSource by 1,215.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,951,400 shares of the utilities provider’s stock valued at $43,204,000 after buying an additional 1,803,000 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in NiSource during the fourth quarter valued at $37,930,000. The Manufacturers Life Insurance Company purchased a new stake in NiSource during the third quarter valued at $36,119,000. Finally, Highbridge Capital Management LLC raised its stake in NiSource by 796.4% in the fourth quarter. Highbridge Capital Management LLC now owns 1,241,052 shares of the utilities provider’s stock valued at $27,477,000 after buying an additional 1,102,597 shares during the last quarter. 83.27% of the stock is owned by institutional investors.
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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