NiSource, Inc (NI) Plans $0.18 Quarterly Dividend
NiSource, Inc (NYSE:NI) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Stockholders of record on Tuesday, October 31st will be paid a dividend of 0.175 per share by the utilities provider on Monday, November 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.66%.
NiSource has decreased its dividend by an average of 13.2% annually over the last three years. NiSource has a dividend payout ratio of 59.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NiSource to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 56.0%.
Shares of NiSource (NYSE:NI) traded down 0.04% during trading on Tuesday, hitting $26.35. 1,036,580 shares of the stock were exchanged. The firm has a 50 day moving average of $25.79 and a 200-day moving average of $24.30. NiSource has a 52-week low of $21.17 and a 52-week high of $26.56. The stock has a market cap of $8.58 billion, a PE ratio of 24.09 and a beta of 0.37.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same quarter last year, the business posted $0.09 EPS. Equities research analysts anticipate that NiSource will post $1.19 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on NI shares. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, June 13th. Ladenburg Thalmann Financial Services started coverage on NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 price objective for the company. Barclays PLC reiterated an “equal weight” rating and issued a $26.00 price objective (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price objective on shares of NiSource in a research note on Friday, July 14th. Finally, Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.38.
In related news, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total transaction of $176,172.06. Following the completion of the sale, the chief financial officer now owns 141,168 shares in the company, valued at $3,601,195.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jimmie L. Stanley sold 37,325 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $24.11, for a total value of $899,905.75. Following the sale, the chief operating officer now owns 315,471 shares of the company’s stock, valued at approximately $7,606,005.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,981 shares of company stock valued at $2,191,779. 0.32% of the stock is owned by company insiders.
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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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