FY2016 Earnings Forecast for NiSource Inc. Issued By Jefferies Group (NI)
NiSource Inc. (NYSE:NI) – Analysts at Jefferies Group upped their FY2016 earnings per share (EPS) estimates for shares of NiSource in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Sighinolfi now expects that the firm will post earnings per share of $1.08 for the year, up from their previous forecast of $1.07. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for NiSource’s Q4 2016 earnings at $0.34 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.17 EPS, FY2018 earnings at $1.22 EPS and FY2020 earnings at $1.29 EPS.
A number of other research firms have also weighed in on NI. Argus reiterated a “hold” rating on shares of NiSource in a report on Monday, July 11th. Credit Suisse Group AG lowered shares of NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 target price for the company. in a report on Friday, August 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Friday, September 23rd. JPMorgan Chase & Co. reiterated a “hold” rating and set a $26.00 target price on shares of NiSource in a report on Wednesday, August 3rd. Finally, Citigroup Inc. increased their price target on shares of NiSource from $18.08 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $25.09.
Shares of NiSource (NYSE:NI) traded down 0.633% during trading on Friday, hitting $22.755. The stock had a trading volume of 2,082,032 shares. The stock has a 50 day moving average of $23.91 and a 200 day moving average of $24.37. NiSource has a 52-week low of $18.60 and a 52-week high of $26.94. The firm has a market cap of $7.33 billion, a PE ratio of 27.682 and a beta of 0.25.
NiSource (NYSE:NI) last announced its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. NiSource had a return on equity of 8.75% and a net margin of 6.18%. During the same period in the prior year, the firm posted $0.18 EPS.
Several institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. increased its position in shares of NiSource by 50.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 378,212 shares of the company’s stock worth $10,029,000 after buying an additional 126,208 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in shares of NiSource during the second quarter valued at $14,518,000. Geode Capital Management LLC increased its stake in shares of NiSource by 6.1% in the first quarter. Geode Capital Management LLC now owns 2,843,274 shares of the company’s stock valued at $66,889,000 after buying an additional 162,206 shares during the period. BlackRock Group LTD increased its stake in shares of NiSource by 11.1% in the first quarter. BlackRock Group LTD now owns 1,806,554 shares of the company’s stock valued at $42,562,000 after buying an additional 180,355 shares during the period. Finally, Gulf International Bank UK Ltd purchased a new stake in shares of NiSource during the second quarter valued at $2,789,000. 82.29% of the stock is owned by institutional investors and hedge funds.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total transaction of $28,500.00. Following the completion of the transaction, the vice president now owns 37,883 shares of the company’s stock, valued at $899,721.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Thursday, October 27th. NiSource’s dividend payout ratio is 80.49%.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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