NiSource (NYSE:NI) Posts Earnings Results, Beats Expectations By $0.02 EPS

NiSource (NYSE:NI) posted its quarterly earnings results on Wednesday. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02, Briefing.com reports. NiSource had a return on equity of 10.10% and a net margin of 12.98%. During the same quarter last year, the company posted $0.77 EPS. NiSource updated its FY 2024 guidance to 1.700-1.740 EPS and its FY24 guidance to $1.70-1.74 EPS.

NiSource Price Performance

NiSource stock traded down $0.26 during mid-day trading on Wednesday, hitting $28.79. The company’s stock had a trading volume of 452,633 shares, compared to its average volume of 4,189,843. NiSource has a twelve month low of $22.86 and a twelve month high of $29.17. The stock’s fifty day moving average price is $27.29 and its two-hundred day moving average price is $26.43. The stock has a market capitalization of $12.90 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.78 and a beta of 0.49. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be issued a $0.265 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.06 annualized dividend and a dividend yield of 3.68%. NiSource’s dividend payout ratio (DPR) is 72.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of NiSource from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a report on Saturday, February 24th.

Insider Transactions at NiSource

In other NiSource news, SVP Melanie B. Berman sold 11,141 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total transaction of $297,019.06. Following the sale, the senior vice president now directly owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.

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.