Zacks: Brokerages Anticipate NiSource, Inc (NI) to Announce $0.31 EPS
Wall Street brokerages expect NiSource, Inc (NYSE:NI) to announce $0.31 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for NiSource’s earnings, with estimates ranging from $0.29 to $0.32. NiSource posted earnings per share of $0.33 during the same quarter last year, which indicates a negative year-over-year growth rate of 6.1%. The company is expected to report its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that NiSource will report full year earnings of $1.19 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.20. For the next financial year, analysts expect that the business will report earnings of $1.27 per share, with EPS estimates ranging from $1.25 to $1.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow NiSource.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The firm had revenue of $917.00 million during the quarter, compared to analyst estimates of $901.00 million. During the same quarter in the prior year, the business posted $0.06 earnings per share.
NI has been the subject of a number of research analyst reports. KeyCorp reissued a “buy” rating and issued a $29.50 price target on shares of NiSource in a research report on Friday, October 20th. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price target on shares of NiSource in a research report on Friday, July 14th. J P Morgan Chase & Co increased their price target on shares of NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Finally, Credit Suisse Group raised shares of NiSource from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $25.00 to $29.00 in a research report on Monday, August 14th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.75.
In other NiSource news, Director Michael E. Jesanis acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $26.44 per share, with a total value of $52,880.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, valued at $904,115.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Wisconsin Investment Board raised its position in NiSource by 8.6% during the third quarter. State of Wisconsin Investment Board now owns 223,102 shares of the utilities provider’s stock valued at $5,709,000 after acquiring an additional 17,656 shares in the last quarter. Stevens Capital Management LP raised its position in NiSource by 111.3% during the third quarter. Stevens Capital Management LP now owns 325,611 shares of the utilities provider’s stock valued at $8,332,000 after acquiring an additional 171,532 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in NiSource during the third quarter valued at approximately $2,215,000. Forsta AP Fonden raised its position in NiSource by 18.8% during the third quarter. Forsta AP Fonden now owns 348,700 shares of the utilities provider’s stock valued at $8,923,000 after acquiring an additional 55,300 shares in the last quarter. Finally, Andra AP fonden raised its position in NiSource by 11.3% during the third quarter. Andra AP fonden now owns 166,800 shares of the utilities provider’s stock valued at $4,268,000 after acquiring an additional 17,000 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, October 30th. NiSource’s payout ratio is presently 81.40%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NiSource Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.