Research Analysts Set Expectations for NiSource, Inc’s FY2017 Earnings (NI)
NiSource, Inc (NYSE:NI) – Equities researchers at Jefferies Group increased their FY2017 earnings estimates for NiSource in a research report issued on Wednesday. Jefferies Group analyst C. Sighinolfi now expects that the utilities provider will earn $1.19 per share for the year, up from their previous estimate of $1.18. Jefferies Group has a “Hold” rating and a $23.00 price target on the stock. Jefferies Group also issued estimates for NiSource’s FY2018 earnings at $1.25 EPS.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.51 billion. NiSource had a return on equity of 9.18% and a net margin of 7.65%. During the same quarter in the previous year, the business earned $0.62 earnings per share.
A number of other research firms have also recently weighed in on NI. Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 price objective (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Thursday, June 1st. Zelman & Associates cut shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Finally, Ladenburg Thalmann Financial Services began coverage on shares of NiSource in a research report on Friday, May 19th. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $25.78.
Shares of NiSource (NYSE NI) opened at 25.75 on Friday. The company has a 50 day moving average price of $25.56 and a 200-day moving average price of $23.72. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 23.54 and a beta of 0.37. NiSource has a one year low of $21.17 and a one year high of $26.56.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be given a $0.175 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.70 annualized dividend and a yield of 2.72%. NiSource’s dividend payout ratio is presently 64.22%.
In other NiSource news, COO Jimmie L. Stanley sold 37,325 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $24.11, for a total value of $899,905.75. Following the completion of the transaction, the chief operating officer now owns 315,471 shares of the company’s stock, valued at approximately $7,606,005.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Violet Sistovaris sold 38,550 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $24.25, for a total transaction of $934,837.50. Following the completion of the transaction, the executive vice president now directly owns 185,186 shares of the company’s stock, valued at approximately $4,490,760.50. The disclosure for this sale can be found here. Insiders sold a total of 89,981 shares of company stock valued at $2,191,779 in the last three months. 0.32% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Highbridge Capital Management LLC boosted its stake in NiSource by 796.4% in the fourth quarter. Highbridge Capital Management LLC now owns 1,241,052 shares of the utilities provider’s stock valued at $27,477,000 after buying an additional 1,102,597 shares during the period. State of Alaska Department of Revenue purchased a new stake in NiSource during the first quarter valued at about $453,000. Canada Pension Plan Investment Board boosted its stake in NiSource by 93.3% in the first quarter. Canada Pension Plan Investment Board now owns 921,206 shares of the utilities provider’s stock valued at $21,915,000 after buying an additional 444,700 shares during the period. Commerce Bank boosted its stake in NiSource by 8.3% in the first quarter. Commerce Bank now owns 10,904 shares of the utilities provider’s stock valued at $259,000 after buying an additional 838 shares during the period. Finally, Arizona State Retirement System boosted its stake in NiSource by 0.4% in the first quarter. Arizona State Retirement System now owns 80,090 shares of the utilities provider’s stock valued at $1,905,000 after buying an additional 300 shares during the period. 82.38% of the stock is owned by institutional investors.
NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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