Q2 2024 EPS Estimates for NiSource Inc. (NYSE:NI) Reduced by Analyst

NiSource Inc. (NYSE:NIFree Report) – Equities researchers at Zacks Research lowered their Q2 2024 earnings per share estimates for shares of NiSource in a research report issued on Wednesday, May 29th. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $0.14 per share for the quarter, down from their prior estimate of $0.20. The consensus estimate for NiSource’s current full-year earnings is $1.71 per share. Zacks Research also issued estimates for NiSource’s Q2 2025 earnings at $0.19 EPS.

NiSource (NYSE:NIGet Free Report) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the business posted $0.77 EPS.

A number of other equities research analysts have also issued reports on NI. BMO Capital Markets reaffirmed an “outperform” rating and issued a $31.00 price target (up previously from $30.00) on shares of NiSource in a research report on Thursday, May 9th. Barclays increased their price target on NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, Evercore ISI increased their price target on NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.71.

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NiSource Stock Performance

Shares of NiSource stock opened at $29.06 on Monday. The business has a 50-day moving average of $28.00 and a 200 day moving average of $26.86. NiSource has a 12 month low of $22.86 and a 12 month high of $29.44. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.84 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.56.

Institutional Trading of NiSource

A number of institutional investors have recently bought and sold shares of NI. TCW Group Inc. raised its holdings in shares of NiSource by 7.8% in the fourth quarter. TCW Group Inc. now owns 792,187 shares of the utilities provider’s stock worth $21,033,000 after acquiring an additional 57,498 shares during the last quarter. Oak Thistle LLC acquired a new position in NiSource in the fourth quarter valued at $1,049,000. HF Advisory Group LLC acquired a new position in NiSource in the fourth quarter valued at $1,559,000. Victory Capital Management Inc. increased its stake in NiSource by 40.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,281,490 shares of the utilities provider’s stock valued at $34,024,000 after purchasing an additional 370,805 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in NiSource by 19.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 803,652 shares of the utilities provider’s stock valued at $21,337,000 after purchasing an additional 128,497 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 11,141 shares of NiSource stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total value of $297,019.06. Following the sale, the senior vice president now directly owns 23,720 shares in the company, valued at $632,375.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be paid a $0.265 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $1.06 annualized dividend and a dividend yield of 3.65%. NiSource’s dividend payout ratio (DPR) is currently 69.28%.

NiSource Company Profile

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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.

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Earnings History and Estimates for NiSource (NYSE:NI)

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