Equities research analysts expect NiSource Inc. (NYSE:NI) to post $969.40 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for NiSource’s earnings, with estimates ranging from $951.40 million to $987.40 million. NiSource posted sales of $931.50 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 4th.
According to Zacks, analysts expect that NiSource will report full-year sales of $5.21 billion for the current financial year. For the next financial year, analysts forecast that the firm will post sales of $5.37 billion, with estimates ranging from $5.19 billion to $5.56 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for NiSource.
NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.05. The firm had revenue of $962.70 million during the quarter, compared to the consensus estimate of $1.06 billion. NiSource had a negative net margin of 1.26% and a positive return on equity of 10.32%. During the same quarter in the previous year, the firm posted $0.05 EPS.
A number of brokerages have recently weighed in on NI. Zacks Investment Research downgraded shares of NiSource from a “hold” rating to a “sell” rating and set a $25.00 price target for the company. in a report on Thursday, June 11th. Wolfe Research reaffirmed a “market perform” rating and set a $26.00 price target on shares of NiSource in a report on Friday, May 15th. Credit Suisse Group cut their price target on shares of NiSource from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, July 20th. Finally, Bank of America cut their price target on shares of NiSource from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $27.30.
NYSE NI traded down $0.14 during trading on Tuesday, reaching $22.28. The company’s stock had a trading volume of 2,861,256 shares, compared to its average volume of 2,812,434. The firm has a 50 day moving average price of $23.76 and a 200 day moving average price of $24.53. NiSource has a 12 month low of $19.56 and a 12 month high of $30.67. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of -69.62, a price-to-earnings-growth ratio of 3.07 and a beta of 0.23.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.77%. The ex-dividend date is Thursday, October 29th. NiSource’s dividend payout ratio is presently 63.64%.
A number of hedge funds and other institutional investors have recently modified their holdings of NI. Oppenheimer Asset Management Inc. lifted its position in shares of NiSource by 312.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,047 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 793 shares during the last quarter. NEXT Financial Group Inc acquired a new position in NiSource in the 1st quarter valued at about $27,000. Sowell Financial Services LLC acquired a new position in NiSource in the 1st quarter valued at about $30,000. Costello Asset Management INC acquired a new position in NiSource in the 2nd quarter valued at about $34,000. Finally, Bartlett & Co. LLC acquired a new position in NiSource in the 1st quarter valued at about $39,000. 88.34% of the stock is currently owned by institutional investors and hedge funds.
NiSource Company Profile
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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