NiSource, Inc (NI) Issues Quarterly Earnings Results, Meets Estimates
NiSource, Inc (NYSE:NI) announced its earnings results on Wednesday. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07, Bloomberg Earnings reports. NiSource had a net margin of 5.96% and a return on equity of 9.17%. During the same period last year, the firm earned $0.06 earnings per share. NiSource updated its FY17 guidance to $1.17-1.20 EPS and its FY18 guidance to $1.26-1.32 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio is presently 81.40%.
In other NiSource news, Director Michael E. Jesanis acquired 2,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $26.44 per share, with a total value of $52,880.00. Following the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $904,115.80. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.
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Several brokerages recently issued reports on NI. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $25.00 to $29.00 in a research report on Monday, August 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 target price on shares of NiSource in a research report on Friday, July 14th. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. J P Morgan Chase & Co upped their target price on shares of NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Finally, Wells Fargo & Company began coverage on shares of NiSource in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.75.
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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