NiSource (NYSE:NI) Issues FY 2024 Earnings Guidance

NiSource (NYSE:NI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.700-1.740 for the period, compared to the consensus EPS 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 Performance

NYSE:NI opened at $34.49 on Friday. The firm has a 50 day simple moving average of $34.14 and a 200-day simple moving average of $31.03. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.63. The firm has a market cap of $15.47 billion, a PE ratio of 20.90, a P/E/G ratio of 2.92 and a beta of 0.51. NiSource has a 1-year low of $24.58 and a 1-year high of $35.48.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, equities analysts expect that NiSource will post 1.73 EPS for the current year.

NiSource Dividend Announcement

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

Analyst Upgrades and Downgrades

NI has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 target price for the company. Barclays boosted their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Evercore ISI boosted their target price on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets boosted their target price on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, NiSource presently has an average rating of “Moderate Buy” and an average target price of $37.50.

NiSource Company Profile

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.