Brokerages Expect NiSource, Inc (NI) Will Announce Earnings of $0.07 Per Share
Wall Street brokerages predict that NiSource, Inc (NYSE:NI) will announce $0.07 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for NiSource’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.08. NiSource posted earnings per share of $0.06 during the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The company is scheduled to report its next quarterly earnings report before the market opens on Wednesday, November 1st.
On average, analysts expect that NiSource will report full year earnings of $1.19 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.20. For the next year, analysts expect that the business will report earnings of $1.26 per share, with EPS estimates ranging from $1.22 to $1.28. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover NiSource.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The business had revenue of $990.70 million for the quarter, compared to the consensus estimate of $934.95 million. During the same quarter in the prior year, the company earned $0.09 EPS.
Several research firms have weighed in on NI. Wells Fargo & Company began coverage on shares of NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Monday, October 2nd. KeyCorp reiterated a “buy” rating and set a $29.50 price objective on shares of NiSource in a research report on Friday, October 20th. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $29.00 in a research report on Monday, August 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $23.00 price objective on shares of NiSource in a research report on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.75.
In related news, Director Michael E. Jesanis purchased 2,000 shares of the stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $904,115.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NI. First Quadrant L P CA acquired a new stake in shares of NiSource in the 3rd quarter valued at $114,000. Advisory Services Network LLC lifted its stake in shares of NiSource by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 200 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of NiSource by 454.0% in the 2nd quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 4,785 shares during the last quarter. TCI Wealth Advisors Inc. lifted its stake in shares of NiSource by 0.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 24 shares during the last quarter. Finally, Peapack Gladstone Financial Corp acquired a new stake in shares of NiSource in the 2nd quarter valued at $202,000. 81.81% of the stock is owned by institutional investors and hedge funds.
Shares of NiSource (NI) traded down 0.06% during midday trading on Monday, reaching $26.25. The company had a trading volume of 1,867,308 shares. The company’s 50 day moving average price is $26.30 and its 200-day moving average price is $25.79. The company has a market capitalization of $8.55 billion, a P/E ratio of 30.45 and a beta of 0.37. NiSource has a 52 week low of $21.17 and a 52 week high of $27.29.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, October 30th. NiSource’s dividend payout ratio is currently 81.40%.
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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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