NiSource, Inc (NI) Expected to Post FY2017 Earnings of $1.20 Per Share
NiSource, Inc (NYSE:NI) – Stock analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of NiSource in a research note issued to investors on Thursday. Jefferies Group analyst C. Sighinolfi now anticipates that the utilities provider will earn $1.20 per share for the year, up from their prior estimate of $1.19. Jefferies Group currently has a “Hold” rating and a $23.00 target price on the stock.
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 analysts’ consensus estimates of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The firm had revenue of $990.70 million for the quarter, compared to analysts’ expectations of $934.95 million. During the same period last year, the firm earned $0.09 earnings per share. COPYRIGHT VIOLATION NOTICE: This article was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/09/11/nisource-inc-ni-expected-to-post-fy2017-earnings-of-1-20-per-share.html.
NI has been the subject of several other research reports. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Wells Fargo & Company assumed coverage on shares of NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target for the company. Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 price target (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Ladenburg Thalmann Financial Services assumed coverage on shares of NiSource in a research report on Friday, May 19th. They set a “buy” rating and a $27.00 price target for the company. Finally, Zelman & Associates lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.61.
NiSource (NYSE:NI) opened at 27.11 on Monday. The company has a market capitalization of $8.83 billion, a PE ratio of 31.45 and a beta of 0.39. The firm has a 50-day moving average of $26.62 and a 200-day moving average of $25.12. NiSource has a 52 week low of $21.17 and a 52 week high of $27.25.
A number of institutional investors have recently added to or reduced their stakes in the stock. Intl Fcstone Inc. increased its holdings in NiSource by 79.0% in the 2nd quarter. Intl Fcstone Inc. now owns 29,133 shares of the utilities provider’s stock worth $739,000 after acquiring an additional 12,862 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in NiSource in the 2nd quarter worth approximately $63,874,000. Sentry Investment Management LLC increased its holdings in NiSource by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 24,853 shares of the utilities provider’s stock worth $630,000 after acquiring an additional 266 shares in the last quarter. Toronto Dominion Bank increased its holdings in NiSource by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 109,571 shares of the utilities provider’s stock worth $2,779,000 after acquiring an additional 22,294 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in NiSource by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 200 shares in the last quarter. 81.96% of the stock is owned by institutional investors.
In other news, Director Michael E. Jesanis bought 2,000 shares of NiSource stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $26.44 per share, with a total value of $52,880.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $904,115.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.58%. The ex-dividend date is Monday, October 30th. NiSource’s dividend payout ratio is 81.40%.
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.
Receive News & Ratings for NiSource Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource Inc and related companies with MarketBeat.com's FREE daily email newsletter.