NiSource (NYSE:NI) Updates FY 2023 Earnings Guidance

NiSource (NYSE:NIGet Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.50-$1.57 for the period, compared to the consensus estimate of $1.55. The company issued revenue guidance of -. NiSource also updated its FY 2022 guidance to $1.44-$1.46 EPS.

NiSource Price Performance

Shares of NI opened at $26.80 on Wednesday. NiSource has a 1-year low of $23.78 and a 1-year high of $32.58. The stock has a market cap of $10.88 billion, a PE ratio of 17.40, a P/E/G ratio of 2.69 and a beta of 0.45. The firm has a 50-day simple moving average of $26.06 and a two-hundred day simple moving average of $28.50. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.57 and a quick ratio of 0.37.

Analyst Upgrades and Downgrades

NI has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of NiSource from $32.00 to $34.00 and gave the company an outperform rating in a research report on Thursday, August 4th. Wells Fargo & Company dropped their price target on shares of NiSource from $31.00 to $28.00 and set an overweight rating for the company in a research report on Tuesday, November 8th. Evercore ISI dropped their price target on shares of NiSource to $27.00 in a research report on Tuesday, November 15th. Edward Jones upgraded shares of NiSource from a hold rating to a buy rating in a research report on Wednesday, July 27th. Finally, Guggenheim dropped their price target on shares of NiSource from $32.00 to $27.00 in a research report on Monday, October 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NiSource has an average rating of Moderate Buy and a consensus target price of $29.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NI. Vanguard Group Inc. lifted its stake in NiSource by 10.9% in the first quarter. Vanguard Group Inc. now owns 52,613,623 shares of the utilities provider’s stock worth $1,673,113,000 after acquiring an additional 5,153,843 shares during the last quarter. State Street Corp lifted its stake in NiSource by 8.9% in the first quarter. State Street Corp now owns 24,192,844 shares of the utilities provider’s stock worth $769,332,000 after acquiring an additional 1,970,696 shares during the last quarter. Wellington Management Group LLP lifted its stake in NiSource by 11.0% in the first quarter. Wellington Management Group LLP now owns 3,728,058 shares of the utilities provider’s stock worth $118,552,000 after acquiring an additional 368,777 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NiSource by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,006,809 shares of the utilities provider’s stock worth $95,617,000 after acquiring an additional 93,208 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in NiSource by 29.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,952,676 shares of the utilities provider’s stock worth $62,093,000 after acquiring an additional 447,102 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

NiSource Company Profile

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NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses on natural gas service and transportation for residential, commercial, and industrial customers.

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Earnings History and Estimates for NiSource (NYSE:NI)

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