NiSource, Inc (NYSE:NI) Declares Quarterly Dividend of $0.18
NiSource, Inc (NYSE:NI) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Investors of record on Tuesday, October 31st will be given a dividend of 0.175 per share by the utilities provider on Monday, November 20th. This represents a $0.70 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, October 30th.
NiSource has decreased its dividend payment by an average of 13.2% annually over the last three years. NiSource has a payout ratio of 58.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NiSource to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 55.6%.
NiSource (NYSE:NI) traded up 0.37% during midday trading on Friday, hitting $26.79. 2,622,821 shares of the company traded hands. The stock has a 50 day moving average price of $26.03 and a 200-day moving average price of $24.66. NiSource has a 12-month low of $21.17 and a 12-month high of $27.02. The company has a market cap of $8.73 billion, a PE ratio of 31.08 and a beta of 0.37.
NiSource (NYSE:NI) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same quarter in the prior year, the business earned $0.09 earnings per share. Analysts expect that NiSource will post $1.19 EPS for the current year.
A number of equities research analysts have issued reports on NI shares. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, June 13th. Ladenburg Thalmann Financial Services began coverage on NiSource in a research report on Friday, May 19th. They issued a “buy” rating and a $27.00 price objective for the company. Barclays PLC reissued an “equal weight” rating and issued a $26.00 price objective (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Wells Fargo & Company began coverage on NiSource in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price objective on shares of NiSource in a research report on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $26.33.
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In related news, EVP Pablo Vegas sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total value of $180,864.00. Following the transaction, the executive vice president now owns 94,885 shares in the company, valued at $2,383,511.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Donald Eugene Brown sold 6,906 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the transaction, the chief financial officer now owns 141,168 shares in the company, valued at approximately $3,601,195.68. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
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 Company’s 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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