Brokerages Anticipate NiSource Inc. (NYSE:NI) Will Post Earnings of $0.04 Per Share

Equities analysts forecast that NiSource Inc. (NYSE:NI) will announce earnings of $0.04 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for NiSource’s earnings, with estimates ranging from $0.03 to $0.05. NiSource reported earnings of $0.10 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 60%. The firm is expected to report its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that NiSource will report full-year earnings of $1.30 per share for the current financial year, with EPS estimates ranging from $1.29 to $1.31. For the next fiscal year, analysts anticipate that the company will post earnings of $1.37 per share, with EPS estimates ranging from $1.34 to $1.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for NiSource.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.05 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.05. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. NiSource had a net margin of 3.15% and a return on equity of 10.60%. During the same period in the prior year, the firm earned $0.07 EPS.

NI has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of NiSource from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a research note on Wednesday, May 29th. TheStreet upgraded shares of NiSource from a “c+” rating to a “b-” rating in a research note on Monday, May 13th. Wolfe Research downgraded shares of NiSource from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. Credit Suisse Group downgraded shares of NiSource from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Argus upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $28.32.

NI stock traded up $0.34 during mid-day trading on Thursday, reaching $29.03. The company had a trading volume of 3,030,038 shares, compared to its average volume of 2,917,816. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.41 and a quick ratio of 0.33. The stock has a market cap of $10.75 billion, a P/E ratio of 22.33, a PEG ratio of 4.09 and a beta of 0.23. The business has a 50 day moving average of $29.16. NiSource has a 12 month low of $24.19 and a 12 month high of $30.34.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.76%. NiSource’s payout ratio is presently 61.54%.

In related news, Director Michael E. Jesanis sold 4,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $29.96, for a total transaction of $119,840.00. Following the completion of the sale, the director now owns 38,997 shares of the company’s stock, valued at $1,168,350.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carrie J. Hightman sold 22,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $29.96, for a total transaction of $659,120.00. Following the sale, the executive vice president now directly owns 329,207 shares of the company’s stock, valued at approximately $9,863,041.72. The disclosure for this sale can be found here. Insiders sold a total of 94,405 shares of company stock valued at $2,768,990 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Coastal Investment Advisors Inc. purchased a new position in shares of NiSource in the second quarter worth $31,000. Neo Ivy Capital Management purchased a new position in shares of NiSource in the second quarter worth $31,000. Pearl River Capital LLC purchased a new position in shares of NiSource in the second quarter worth $34,000. Cornerstone Advisors Inc. raised its holdings in shares of NiSource by 36.9% in the second quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock worth $38,000 after buying an additional 351 shares during the last quarter. Finally, Harvest Group Wealth Management LLC purchased a new position in shares of NiSource in the first quarter worth $52,000. 93.77% of the stock is owned by institutional investors.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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