NiSource (NI) set to announce its quarterly results on Wednesday
NiSource (NYSE: NI- Get a rating) will announce its results before the market opens on Wednesday, August 3. Analysts expect the company to report earnings of $0.14 per share for the quarter. NiSource pegged its guidance for FY22 at $1.42-1.48 EPS. Investors wishing to register for the company’s conference call can do so using this link.
NiSource (NYSE: NI- Get a rating) last released its quarterly results on Wednesday, May 4. The utility provider reported earnings per share (EPS) of $0.75 for the quarter, missing analyst consensus estimates of $0.76 per ($0.01). The company posted revenue of $1.87 billion in the quarter, versus $1.69 billion expected by analysts. NiSource had a net margin of 13.70% and a return on equity of 11.34%. In the same quarter last year, the company earned earnings per share of $0.77. On average, analysts expect NiSource to post EPS of $1 for the current fiscal year and EPS of $2 for the next fiscal year.
NiSource Price Performance
NI stock opened at $29.20 on Wednesday. The company has a debt ratio of 1.53, a current ratio of 0.72 and a quick ratio of 0.62. The company has a 50-day simple moving average of $29.42 and a 200-day simple moving average of $29.61. The company has a market capitalization of $11.85 billion, a PE ratio of 19.09, a growth price-earnings ratio of 2.76 and a beta of 0.38. NiSource has a 1-year low of $23.65 and a 1-year high of $32.58.
NiSource Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19. Investors of record on Friday, July 29 will receive a dividend of $0.235. The ex-date of this dividend is Thursday, July 28. This represents an annualized dividend of $0.94 and a yield of 3.22%. NiSource’s payout ratio is 61.44%.
NiSource Institutional Trading
Several hedge funds have recently changed their stock holdings. Vanguard Group Inc. increased its stake in NiSource shares by 10.9% in the first quarter. Vanguard Group Inc. now owns 52,613,623 shares of the utility provider valued at $1,673,113,000 after acquiring an additional 5,153,843 shares in the last quarter. State Street Corp increased its stake in NiSource by 8.9% in the first quarter. State Street Corp now owns 24,192,844 shares of the utility provider valued at $769,332,000 after buying an additional 1,970,696 shares last quarter. Wellington Management Group LLP increased its stake in NiSource by 11.0% in the first quarter. Wellington Management Group LLP now owns 3,728,058 shares of the utility provider valued at $118,552,000 after purchasing an additional 368,777 shares last quarter. Charles Schwab Investment Management Inc. increased its stake in NiSource by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,006,809 shares of the utility provider valued at $95,617,000 after buying an additional 93,208 shares last quarter. Finally, Dimensional Fund Advisors LP increased its stake in NiSource by 29.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,952,676 shares of the utility provider valued at $62,093,000 after buying an additional 447,102 shares last quarter. 95.49% of the shares are currently held by institutional investors and hedge funds.
Analyst upgrades and downgrades
Several research analysts have weighed in on the company recently. StockNews.com assumed coverage on NiSource in a Thursday, March 31, research report. They issued a “hold” rating for the company. Barclays lowered its price target on NiSource from $35.00 to $32.00 and set an “overweight” rating for the company in a Monday, July 18 research report. Wells Fargo & Company raised its price target on NiSource from $31.00 to $35.00 and gave the stock an “overweight” rating in a Tuesday, April 19 research report. Finally, Credit Suisse Group began covering NiSource in a research note on Monday, April 25. They set a “neutral” rating and a price target of $32.00 on the stock. Three research analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat, NiSource currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.
NiSource Company Profile
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 Power 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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