NiSource (NYSE:NI) Releases FY24 Earnings Guidance

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

NiSource Trading Down 1.9 %

NYSE:NI traded down $0.67 on Friday, hitting $34.49. 3,135,337 shares of the stock were exchanged, compared to its average volume of 4,035,585. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.63 and a current ratio of 0.46. NiSource has a 52 week low of $24.58 and a 52 week high of $35.48. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.92 and a beta of 0.51. The company’s 50-day moving average price is $34.14 and its 200 day moving average price is $31.03.

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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NI shares. JPMorgan Chase & Co. raised their price target on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays raised their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. BMO Capital Markets upped their price target on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Mizuho raised their price objective on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. 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, NiSource has a consensus rating of “Moderate Buy” and a consensus price target 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.