NiSource (NYSE:NI) Releases FY 2024 Earnings Guidance

NiSource (NYSE:NI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.700-1.740 for the period, compared to the consensus estimate of 1.730. The company issued revenue guidance of -. NiSource also updated its FY 2025 guidance to 1.840-1.880 EPS.

NiSource Stock Down 1.9 %

Shares of NI traded down $0.67 during trading hours on Friday, reaching $34.49. 3,135,337 shares of the stock traded hands, compared to its average volume of 4,035,585. NiSource has a 52 week low of $24.58 and a 52 week high of $35.48. The company has a market cap of $15.47 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.92 and a beta of 0.51. The stock has a fifty day simple moving average of $34.14 and a 200 day simple moving average of $31.03. The company has a current ratio of 0.46, a quick ratio of 0.63 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. On average, equities analysts forecast that NiSource will post 1.73 EPS for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.07%. NiSource’s dividend payout ratio (DPR) is presently 64.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NI shares. Barclays lifted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Mizuho lifted their price objective on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group began coverage on NiSource in a research report on Monday. They set a “buy” rating and a $39.00 target price on the stock. Evercore ISI lifted their price target on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Bank of America assumed coverage on NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.