NiSource (NYSE:NI) Releases FY 2024 Earnings Guidance

NiSource (NYSE:NI) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.700-1.740 for the period, compared to the consensus EPS estimate of 1.710. The company issued revenue guidance of -. NiSource also updated its FY24 guidance to $1.70-1.74 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NI shares. StockNews.com upgraded NiSource from a sell rating to a hold rating in a research report on Saturday, February 24th. Barclays raised their price objective 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.

NiSource Stock Down 1.1 %

Shares of NYSE:NI traded down $0.31 during trading on Wednesday, reaching $28.74. 2,426,681 shares of the stock were exchanged, compared to its average volume of 4,208,866. NiSource has a 1-year low of $22.86 and a 1-year high of $29.17. The stock has a fifty day moving average of $27.29 and a two-hundred day moving average of $26.43. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.85 and a quick ratio of 0.76. The firm has a market cap of $12.88 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 2.78 and a beta of 0.49.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $0.77 EPS. Research analysts anticipate that NiSource will post 1.71 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, April 29th. NiSource’s dividend payout ratio is currently 72.11%.

Insider Transactions at NiSource

In related news, SVP Melanie B. Berman sold 11,141 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

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.