NiSource (NYSE:NI) Releases FY 2024 Earnings Guidance

NiSource (NYSE:NI) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Performance

NI opened at $35.90 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.91 and a beta of 0.51. The company’s 50 day moving average is $33.99 and its 200 day moving average is $30.92. NiSource has a 12-month low of $24.58 and a 12-month high of $35.90.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same quarter last year, the firm posted $0.11 earnings per share. On average, equities research analysts predict that NiSource will post 1.72 EPS for the current year.

NiSource Dividend Announcement

The firm 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 $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Thursday, October 31st. NiSource’s payout ratio is 65.03%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Mizuho assumed coverage on shares of NiSource in a report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays lifted their price target on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Evercore ISI lifted their price target on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.63.

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.