NiSource (NYSE:NI) Releases Earnings Results, Meets Estimates

NiSource (NYSE:NI) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05, Briefing.com reports. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. NiSource had a positive return on equity of 10.76% and a negative net margin of 2.06%. During the same period in the prior year, the company posted $0.07 earnings per share. NiSource updated its FY 2019 guidance to $1.27-1.33 EPS and its FY19 guidance to $1.27-1.33 EPS.

NiSource stock traded down $0.27 during mid-day trading on Friday, reaching $29.77. 123,947 shares of the stock traded hands, compared to its average volume of 1,754,779. The firm has a market capitalization of $11.04 billion, a PE ratio of 22.92, a PEG ratio of 4.31 and a beta of 0.25. The company has a quick ratio of 0.42, a current ratio of 0.48 and a debt-to-equity ratio of 1.45. NiSource has a 12-month low of $24.19 and a 12-month high of $30.34. The firm’s 50-day simple moving average is $29.24.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, July 30th. NiSource’s dividend payout ratio (DPR) is presently 61.54%.

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in NiSource by 3.9% during the first quarter. JPMorgan Chase & Co. now owns 15,148,835 shares of the utilities provider’s stock valued at $434,165,000 after acquiring an additional 567,988 shares during the last quarter. Jennison Associates LLC increased its position in NiSource by 73.1% during the first quarter. Jennison Associates LLC now owns 5,626,608 shares of the utilities provider’s stock valued at $161,259,000 after acquiring an additional 2,375,299 shares during the last quarter. Commonwealth Bank of Australia increased its position in NiSource by 32.7% during the first quarter. Commonwealth Bank of Australia now owns 5,318,979 shares of the utilities provider’s stock valued at $152,428,000 after acquiring an additional 1,309,337 shares during the last quarter. Geode Capital Management LLC increased its position in NiSource by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 4,703,532 shares of the utilities provider’s stock valued at $119,026,000 after acquiring an additional 363,894 shares during the last quarter. Finally, Northern Trust Corp increased its position in NiSource by 2.9% during the first quarter. Northern Trust Corp now owns 4,587,546 shares of the utilities provider’s stock valued at $131,480,000 after acquiring an additional 128,055 shares during the last quarter. Institutional investors own 93.86% of the company’s stock.

A number of research analysts have recently issued reports on NI shares. Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Wednesday, July 24th. Goldman Sachs Group raised NiSource from a “neutral” rating to a “buy” rating and upped their price target for the company from $26.00 to $29.00 in a report on Monday, April 8th. ValuEngine downgraded NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. TheStreet raised NiSource from a “c+” rating to a “b-” rating in a report on Monday, May 13th. Finally, Bank of America downgraded NiSource from a “buy” rating to a “neutral” rating and set a $27.37 price target on the stock. in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.32.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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Earnings History for NiSource (NYSE:NI)

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