NiSource (NYSE:NI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

NiSource (NYSE:NI) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.85 EPS for the quarter, beating the consensus estimate 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 period last year, the company posted $0.77 earnings per share. NiSource updated its FY 2024 guidance to 1.700-1.740 EPS and its FY24 guidance to $1.70-1.74 EPS.

NiSource Price Performance

NI traded down $0.26 on Wednesday, hitting $28.79. 452,633 shares of the company’s stock were exchanged, compared to its average volume of 4,189,843. NiSource has a fifty-two week low of $22.86 and a fifty-two week high of $29.17. 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 has a 50-day moving average price of $27.29 and a 200-day moving average price of $26.43. The stock has a market cap of $12.90 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 2.78 and a beta of 0.49.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.06 annualized dividend and a yield of 3.68%. NiSource’s dividend payout ratio (DPR) is presently 72.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. StockNews.com raised shares of NiSource from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th.

Insiders Place Their Bets

In other news, SVP Melanie B. Berman sold 11,141 shares of NiSource stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total transaction of $297,019.06. Following the transaction, the senior vice president now owns 23,720 shares in the company, valued at approximately $632,375.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

NiSource Company Profile

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.