Equities analysts predict that NiSource Inc. (NYSE:NI) will report earnings per share of $0.07 for the current quarter, according to Zacks. Two analysts have made estimates for NiSource’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.03. NiSource also posted earnings of $0.07 per share during the same quarter last year. The business is expected to issue its next earnings results before the market opens on Thursday, November 1st.
According to Zacks, analysts expect that NiSource will report full-year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.20 to $1.30. For the next fiscal year, analysts anticipate that the company will post earnings of $1.35 per share, with EPS estimates ranging from $1.30 to $1.39. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover NiSource.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). NiSource had a net margin of 5.20% and a return on equity of 9.19%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.39 million. During the same quarter in the prior year, the company posted $0.10 EPS.
Several equities analysts have recently weighed in on NI shares. Evercore ISI lowered shares of NiSource from an “in-line” rating to an “underperform” rating in a report on Friday, September 14th. Bank of America reiterated a “buy” rating and set a $28.00 price objective on shares of NiSource in a report on Monday, September 17th. ValuEngine lowered shares of NiSource from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Guggenheim downgraded shares of NiSource from a “buy” rating to a “neutral” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Finally, Goldman Sachs Group downgraded shares of NiSource from a “conviction-buy” rating to a “buy” rating and set a $29.00 target price for the company. in a research report on Friday, September 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. NiSource has an average rating of “Hold” and an average price target of $27.18.
In other NiSource news, CFO Donald Eugene Brown sold 2,400 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $26.50, for a total value of $63,600.00. Following the completion of the sale, the chief financial officer now directly owns 49,167 shares of the company’s stock, valued at approximately $1,302,925.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carrie J. Hightman sold 27,000 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $26.75, for a total transaction of $722,250.00. Following the completion of the sale, the executive vice president now directly owns 325,066 shares of the company’s stock, valued at $8,695,515.50. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
A number of hedge funds have recently modified their holdings of NI. Dimensional Fund Advisors LP grew its position in NiSource by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,175,962 shares of the utilities provider’s stock worth $28,117,000 after purchasing an additional 5,352 shares in the last quarter. PNC Financial Services Group Inc. grew its position in NiSource by 14.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 74,900 shares of the utilities provider’s stock worth $1,792,000 after purchasing an additional 9,488 shares in the last quarter. Sei Investments Co. grew its position in NiSource by 4.7% in the 1st quarter. Sei Investments Co. now owns 209,476 shares of the utilities provider’s stock worth $5,008,000 after purchasing an additional 9,411 shares in the last quarter. Asset Management One Co. Ltd. grew its position in NiSource by 1.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 689,024 shares of the utilities provider’s stock worth $16,474,000 after purchasing an additional 7,031 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in NiSource by 16.4% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 258,518 shares of the utilities provider’s stock worth $6,181,000 after purchasing an additional 36,469 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE NI traded down $0.34 during trading on Friday, hitting $24.31. 2,936,098 shares of the company traded hands, compared to its average volume of 3,433,457. NiSource has a fifty-two week low of $22.44 and a fifty-two week high of $28.11. The firm has a market capitalization of $9.05 billion, a P/E ratio of 20.09, a P/E/G ratio of 3.51 and a beta of 0.17. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.40.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Wednesday, October 31st will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, October 30th. NiSource’s payout ratio is presently 64.46%.
NiSource Company Profile
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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