NiSource Inc. (NYSE:NI) Expected to Announce Earnings of $0.04 Per Share

Analysts expect NiSource Inc. (NYSE:NI) to announce earnings of $0.04 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for NiSource’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.03. NiSource posted earnings of $0.10 per share during the same quarter last year, which would suggest a negative year over year growth rate of 60%. The business is expected to issue its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that NiSource will report full-year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.29 to $1.31. For the next fiscal year, analysts expect that the firm will report earnings of $1.37 per share, with EPS estimates ranging from $1.34 to $1.40. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for NiSource.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. NiSource had a net margin of 3.15% and a return on equity of 10.60%. During the same quarter last year, the firm posted $0.07 earnings per share.

A number of research firms have recently issued reports on NI. Zacks Investment Research lowered shares of NiSource from a “hold” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, May 29th. Credit Suisse Group downgraded shares of NiSource from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 7th. Wolfe Research downgraded shares of NiSource from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. TheStreet raised shares of NiSource from a “c+” rating to a “b-” rating in a research report on Monday, May 13th. Finally, Argus raised shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $28.32.

In related news, EVP Carrie J. Hightman sold 22,000 shares of NiSource stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $29.96, for a total transaction of $659,120.00. Following the sale, the executive vice president now directly owns 329,207 shares in the company, valued at $9,863,041.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph W. Mulpas sold 12,000 shares of NiSource stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $29.78, for a total transaction of $357,360.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,405 shares of company stock valued at $2,768,990. Corporate insiders own 0.35% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NI. Nuveen Asset Management LLC bought a new stake in shares of NiSource during the second quarter valued at about $77,273,000. Jennison Associates LLC raised its stake in shares of 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 purchasing an additional 2,375,299 shares in the last quarter. Norges Bank bought a new stake in shares of NiSource during the fourth quarter valued at about $47,499,000. FMR LLC raised its stake in shares of NiSource by 104.5% during the fourth quarter. FMR LLC now owns 3,036,242 shares of the utilities provider’s stock valued at $76,968,000 after purchasing an additional 1,551,419 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of NiSource by 62.9% during the first quarter. Janus Henderson Group PLC now owns 3,428,614 shares of the utilities provider’s stock valued at $98,263,000 after purchasing an additional 1,324,440 shares in the last quarter. Institutional investors and hedge funds own 93.77% of the company’s stock.

Shares of NI traded up $0.34 during mid-day trading on Thursday, reaching $29.03. 3,030,038 shares of the stock traded hands, compared to its average volume of 2,917,816. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 4.09 and a beta of 0.23. The firm has a fifty day moving average of $29.16. NiSource has a 12-month low of $24.19 and a 12-month high of $30.34. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.40.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, October 30th. NiSource’s dividend payout ratio (DPR) is 61.54%.

NiSource Company Profile

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 and Estimates for NiSource (NYSE:NI)

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