NiSource (NYSE:NI) Issues FY22 Earnings Guidance

NiSource (NYSE:NIGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.42-1.48 for the period, compared to the Thomson Reuters consensus estimate of $1.45.

NI has been the topic of a number of analyst reports. Evercore ISI raised NiSource from an in-line rating to an outperform rating and increased their price objective for the company from $27.00 to $30.00 in a research note on Tuesday, January 25th. Zacks Investment Research cut shares of NiSource from a buy rating to a hold rating and set a $31.00 price target on the stock. in a research note on Monday. UBS Group lowered shares of NiSource from a buy rating to a neutral rating and boosted their price objective for the company from $29.00 to $31.00 in a research report on Tuesday, February 15th. Wells Fargo & Company raised their target price on shares of NiSource from $31.00 to $35.00 and gave the stock an overweight rating in a research report on Tuesday, April 19th. Finally, StockNews.com initiated coverage on NiSource in a report on Thursday, March 31st. They issued a hold rating for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, NiSource currently has a consensus rating of Buy and a consensus price target of $31.14.

NI opened at $28.96 on Wednesday. NiSource has a 1 year low of $23.65 and a 1 year high of $32.58. The company’s 50 day simple moving average is $30.57 and its 200 day simple moving average is $28.06. The stock has a market capitalization of $11.74 billion, a PE ratio of 22.11, a P/E/G ratio of 2.79 and a beta of 0.36. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.52 and a current ratio of 0.70.

NiSource (NYSE:NIGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The utilities provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. NiSource had a net margin of 11.94% and a return on equity of 11.61%. During the same quarter last year, the business earned $0.34 EPS. As a group, sell-side analysts expect that NiSource will post 1.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Shareholders of record on Friday, April 29th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, April 28th. NiSource’s dividend payout ratio (DPR) is presently 71.76%.

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of NiSource by 41.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,381,731 shares of the utilities provider’s stock valued at $65,760,000 after acquiring an additional 701,468 shares during the period. Wells Fargo & Company MN increased its holdings in NiSource by 26.6% in the 4th quarter. Wells Fargo & Company MN now owns 953,900 shares of the utilities provider’s stock valued at $26,337,000 after purchasing an additional 200,194 shares in the last quarter. Morgan Stanley raised its position in NiSource by 8.3% in the second quarter. Morgan Stanley now owns 972,980 shares of the utilities provider’s stock valued at $23,838,000 after purchasing an additional 74,542 shares during the period. California State Teachers Retirement System lifted its stake in shares of NiSource by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 672,298 shares of the utilities provider’s stock worth $18,562,000 after purchasing an additional 11,752 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of NiSource by 25.3% in the fourth quarter. Sei Investments Co. now owns 495,687 shares of the utilities provider’s stock worth $13,704,000 after buying an additional 100,190 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

NiSource Company Profile (Get Rating)

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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Earnings History and Estimates for NiSource (NYSE:NI)

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