NiSource (NYSE:NI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

NiSource Stock Up 1.0 %

NYSE NI opened at $29.05 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15. NiSource has a 12 month low of $22.86 and a 12 month high of $29.17. The stock’s 50 day moving average is $27.29 and its 200 day moving average is $26.43. The stock has a market cap of $13.02 billion, a PE ratio of 19.76, a P/E/G ratio of 2.78 and a beta of 0.49.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Tuesday, April 30th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, April 29th. NiSource’s dividend payout ratio is currently 72.11%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NI. StockNews.com upgraded NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Barclays increased their target price on shares of NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd.

Insider Activity

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 value of $297,019.06. Following the sale, the senior vice president now owns 23,720 shares in the company, valued at approximately $632,375.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.