NiSource (NI) Set to Announce Quarterly Earnings on Wednesday

NiSource (NYSE:NI) will announce its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.15 per share for the quarter. NiSource has set its FY24 guidance at $1.70-$1.74 EPS and its FY 2024 guidance at 1.700-1.740 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same period in the previous year, the business earned $0.11 EPS. On average, analysts expect NiSource to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NiSource Stock Performance

NI stock opened at $34.78 on Wednesday. The company has a market cap of $15.59 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. NiSource has a 1 year low of $24.58 and a 1 year high of $35.19. The stock’s fifty day moving average price is $33.63 and its 200-day moving average price is $30.60.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 annualized dividend and a yield of 3.05%. NiSource’s payout ratio is 69.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NI. Mizuho assumed coverage on shares of NiSource in a research note on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective on the stock. BMO Capital Markets lifted their price target on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Barclays upped their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company lifted their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America began coverage on NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

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.