NiSource (NYSE:NI) Issues FY24 Earnings Guidance

NiSource (NYSE:NI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.70-1.74 for the period, compared to the consensus EPS estimate of $1.72. NiSource also updated its FY 2024 guidance to 1.700-1.740 EPS.

NiSource Stock Down 0.6 %

NYSE NI traded down $0.18 on Wednesday, hitting $28.87. 3,297,211 shares of the stock were exchanged, compared to its average volume of 4,223,299. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 1.15. NiSource has a fifty-two week low of $22.86 and a fifty-two week high of $29.17. The company has a market cap of $12.94 billion, a PE ratio of 19.76, a PEG ratio of 2.78 and a beta of 0.49. The company has a 50-day moving average price of $27.29 and a 200-day moving average price of $26.43.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. NiSource had a net margin of 12.98% and a return on equity of 10.10%. During the same period in the previous year, the business posted $0.77 earnings per share. Sell-side analysts anticipate that NiSource will post 1.71 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, April 29th. NiSource’s dividend payout ratio is currently 72.11%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NI shares. Barclays increased their price target on shares of NiSource from $28.00 to $29.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. StockNews.com upgraded shares of NiSource from a sell rating to a hold rating in a research report on Saturday, February 24th.

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 11,141 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total value of $297,019.06. Following the completion of the sale, the senior vice president now owns 23,720 shares in the company, valued at $632,375.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

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.