FY2019 Earnings Estimate for NiSource Inc. Issued By Jefferies Group (NI)
NiSource Inc. (NYSE:NI) – Equities researchers at Jefferies Group lowered their FY2019 EPS estimates for NiSource in a report issued on Thursday. Jefferies Group analyst C. Sighinolfi now expects that the brokerage will post earnings of $1.24 per share for the year, down from their prior estimate of $1.27. Jefferies Group currently has a “Hold” rating on the stock.
NiSource (NYSE:NI) last announced its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $0.18 earnings per share.
NI has been the topic of a number of other research reports. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Evercore ISI downgraded NiSource from a “hold” rating to a “sell” rating and set a $23.75 target price on the stock. in a research report on Wednesday, July 6th. KeyCorp reissued an “outperform” rating and set a $27.00 price target (up previously from $25.50) on shares of NiSource in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 price target on shares of NiSource in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. boosted their price target on NiSource from $18.08 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. NiSource has an average rating of “Hold” and a consensus price target of $25.09.
Shares of NiSource (NYSE:NI) opened at 22.68 on Monday. The firm has a 50 day moving average price of $23.85 and a 200-day moving average price of $24.37. NiSource has a 12 month low of $18.60 and a 12 month high of $26.94. The company has a market cap of $7.31 billion, a P/E ratio of 27.59 and a beta of 0.25.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a yield of 2.91%. NiSource’s dividend payout ratio (DPR) is currently 80.49%.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total transaction of $28,500.00. Following the sale, the vice president now owns 37,883 shares of the company’s stock, valued at $899,721.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its position in NiSource by 50.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 378,212 shares of the company’s stock worth $10,029,000 after buying an additional 126,208 shares during the period. Candriam Luxembourg S.C.A. bought a new position in NiSource during the second quarter worth about $14,518,000. Geode Capital Management LLC boosted its position in NiSource by 6.1% in the first quarter. Geode Capital Management LLC now owns 2,843,274 shares of the company’s stock worth $66,889,000 after buying an additional 162,206 shares during the period. BlackRock Group LTD boosted its position in NiSource by 11.1% in the first quarter. BlackRock Group LTD now owns 1,806,554 shares of the company’s stock worth $42,562,000 after buying an additional 180,355 shares during the period. Finally, Gulf International Bank UK Ltd bought a new position in NiSource during the second quarter worth about $2,789,000. 82.30% of the stock is currently owned by institutional investors and hedge funds.
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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