NiSource (NYSE:NI) Issues Earnings Results

NiSource (NYSE:NI) posted its earnings results on Wednesday. The utilities provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02, Briefing.com reports. NiSource had a net margin of 12.98% and a return on equity of 10.10%. During the same quarter in the previous year, the firm earned $0.77 EPS. NiSource updated its FY 2024 guidance to 1.700-1.740 EPS and its FY24 guidance to $1.70-1.74 EPS.

NiSource Stock Performance

Shares of NI opened at $29.05 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15. The firm’s fifty day simple moving average is $27.29 and its two-hundred day simple moving average is $26.43. NiSource has a 12 month low of $22.86 and a 12 month high of $29.17. The stock has a market capitalization of $13.02 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 2.78 and a beta of 0.49.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Tuesday, April 30th will be issued a $0.265 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.06 annualized dividend and a yield of 3.65%. NiSource’s payout ratio is 72.11%.

Insider Transactions at NiSource

In other NiSource news, SVP Melanie B. Berman sold 11,141 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total value of $297,019.06. Following the transaction, the senior vice president now directly owns 23,720 shares of the company’s stock, valued at $632,375.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

NI has been the subject of several analyst reports. StockNews.com raised shares of NiSource from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Barclays lifted their target price on NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd.

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.