FY2016 Earnings Forecast for NiSource Inc. Issued By Jefferies Group (NI)
NiSource Inc. (NYSE:NI) – Equities research analysts at Jefferies Group boosted their FY2016 EPS estimates for shares of NiSource in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Sighinolfi now expects that the brokerage will post earnings of $1.08 per share for the year, up from their prior estimate of $1.07. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for NiSource’s Q4 2016 earnings at $0.34 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.17 EPS, FY2018 earnings at $1.22 EPS and FY2020 earnings at $1.29 EPS.
NiSource (NYSE:NI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. NiSource had a return on equity of 8.75% and a net margin of 6.18%. During the same period last year, the company earned $0.18 EPS.
Other equities analysts have also issued research reports about the company. KeyCorp set a $27.00 target price on NiSource and gave the stock a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, September 23rd. Argus reiterated a “hold” rating on shares of NiSource in a research note on Monday, July 11th. Credit Suisse Group AG set a $25.00 target price on NiSource and gave the stock a “hold” rating in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $26.00 target price on shares of NiSource in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. NiSource presently has a consensus rating of “Hold” and an average price target of $25.09.
NiSource (NYSE:NI) traded down 0.633% during trading on Friday, reaching $22.755. The company’s stock had a trading volume of 2,082,032 shares. The company’s 50 day moving average price is $23.91 and its 200-day moving average price is $24.37. NiSource has a 1-year low of $18.60 and a 1-year high of $26.94. The stock has a market cap of $7.33 billion, a P/E ratio of 27.682 and a beta of 0.25.
Several large investors have recently modified their holdings of the stock. Ngam Advisors L.P. increased its stake in shares of NiSource by 4.8% in the first quarter. Ngam Advisors L.P. now owns 48,710 shares of the company’s stock worth $1,148,000 after buying an additional 2,220 shares in the last quarter. Prudential Financial Inc. increased its stake in NiSource by 0.8% in the first quarter. Prudential Financial Inc. now owns 738,501 shares of the company’s stock valued at $17,398,000 after buying an additional 6,100 shares during the period. BlackRock Group LTD increased its stake in NiSource by 11.1% in the first quarter. BlackRock Group LTD now owns 1,806,554 shares of the company’s stock valued at $42,562,000 after buying an additional 180,355 shares during the period. BlackRock Fund Advisors increased its stake in NiSource by 4.2% in the first quarter. BlackRock Fund Advisors now owns 7,201,734 shares of the company’s stock valued at $169,673,000 after buying an additional 287,930 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in NiSource by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,925,495 shares of the company’s stock valued at $186,725,000 after buying an additional 57,503 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total value of $28,500.00. Following the sale, the vice president now owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Thursday, October 27th. NiSource’s dividend payout ratio is presently 80.49%.
NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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