NiSource (NYSE:NI) Updates FY22 Earnings Guidance

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

NiSource stock traded down $0.26 during midday trading on Thursday, hitting $29.41. 194,934 shares of the stock were exchanged, compared to its average volume of 4,396,075. NiSource has a 52-week low of $23.65 and a 52-week high of $32.58. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 1.60. The business’s 50-day moving average price is $30.60 and its 200-day moving average price is $28.07. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.76 and a beta of 0.36.

NiSource (NYSE:NIGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). NiSource had a return on equity of 11.61% and a net margin of 11.94%. During the same period in the prior year, the business earned $0.77 EPS. On average, sell-side analysts predict that NiSource will post 1.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Friday, April 29th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, April 28th. NiSource’s dividend payout ratio (DPR) is presently 71.76%.

Several research firms have recently commented on NI. UBS Group downgraded NiSource from a buy rating to a neutral rating and lifted their price objective for the stock from $29.00 to $31.00 in a report on Tuesday, February 15th. Evercore ISI raised NiSource from an in-line rating to an outperform rating and raised their target price for the stock from $27.00 to $30.00 in a research note on Tuesday, January 25th. StockNews.com assumed coverage on NiSource in a research note on Thursday, March 31st. They issued a hold rating on the stock. Wells Fargo & Company raised their target price on NiSource from $31.00 to $35.00 and gave the stock an overweight rating in a research note on Tuesday, April 19th. Finally, Zacks Investment Research cut NiSource from a buy rating to a hold rating and set a $31.00 target price on the stock. in a research note on Monday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $31.14.

A number of institutional investors have recently bought and sold shares of the stock. JustInvest LLC purchased a new stake in NiSource in the 4th quarter worth about $502,000. Wells Fargo & Company MN increased its position in shares of NiSource by 26.6% during the fourth quarter. Wells Fargo & Company MN now owns 953,900 shares of the utilities provider’s stock worth $26,337,000 after acquiring an additional 200,194 shares during the period. Goldman Sachs Group Inc. increased its position in shares of NiSource by 41.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,381,731 shares of the utilities provider’s stock worth $65,760,000 after acquiring an additional 701,468 shares during the period. Toroso Investments LLC increased its position in shares of NiSource by 24.5% during the fourth quarter. Toroso Investments LLC now owns 13,339 shares of the utilities provider’s stock worth $368,000 after acquiring an additional 2,622 shares during the period. Finally, California State Teachers Retirement System increased its position 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 acquiring an additional 11,752 shares during the period. 95.49% of the stock is currently owned by institutional investors.

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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