NiSource (NYSE:NI) Issues FY24 Earnings Guidance

NiSource (NYSE:NI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.70-1.74 for the period, compared to the consensus EPS estimate of $1.73. NiSource also updated its FY 2024 guidance to 1.700-1.740 EPS.

NiSource Trading Down 1.9 %

Shares of NYSE NI traded down $0.67 during trading on Friday, reaching $34.49. The stock had a trading volume of 3,135,337 shares, compared to its average volume of 4,035,585. NiSource has a fifty-two week low of $24.58 and a fifty-two week high of $35.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.63 and a current ratio of 0.46. The business’s 50-day moving average price is $34.14 and its 200-day moving average price is $31.03. The company has a market cap of $15.47 billion, a P/E ratio of 20.90, a PEG ratio of 2.92 and a beta of 0.51.

NiSource (NYSE:NI) last issued 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. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts predict that NiSource will post 1.73 EPS for the current fiscal year.

NiSource Announces Dividend

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 paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 annualized dividend and a yield of 3.07%. NiSource’s payout ratio is 64.24%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company boosted their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on NiSource in a research note on Monday. They set a “buy” rating and a $39.00 target price for the company. Evercore ISI boosted their target price on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Bank of America began coverage on NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.