Brokers Offer Predictions for NiSource Inc.’s Q2 2023 Earnings (NYSE:NI)

Posted by Defense World Staff on Jul 22nd, 2023

NiSource Inc. (NYSE:NI – Free Report) – Stock analysts at Zacks Research cut their Q2 2023 earnings estimates for NiSource in a research note issued to investors on Wednesday, July 19th. Zacks Research analyst J. Saha now forecasts that the utilities provider will post earnings of $0.15 per share for the quarter, down from their prior forecast of $0.16. The consensus estimate for NiSource’s current full-year earnings is $1.60 per share. Zacks Research also issued estimates for NiSource’s Q4 2023 earnings at $0.57 EPS, Q2 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.69 EPS and Q2 2025 earnings at $0.21 EPS.

NiSource (NYSE:NI – Get Free Report) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. NiSource had a net margin of 11.72% and a return on equity of 11.14%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share.

A number of other equities research analysts have also recently issued reports on NI. UBS Group upgraded NiSource from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, June 6th. Evercore ISI dropped their price objective on NiSource from $31.00 to $30.00 in a research note on Wednesday, June 21st. StockNews.com began coverage on NiSource in a research note on Thursday, May 18th. They issued a “hold” rating for the company. BMO Capital Markets decreased their price objective on NiSource from $31.00 to $30.00 in a report on Wednesday, June 21st. Finally, Guggenheim reduced their price target on NiSource from $31.00 to $30.00 in a report on Friday, July 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NiSource has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

NiSource Stock Performance

Shares of NI stock opened at $28.08 on Friday. The firm has a market capitalization of $11.60 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.46 and a beta of 0.47. The firm has a fifty day simple moving average of $27.34 and a two-hundred day simple moving average of $27.57. The company has a current ratio of 0.60, a quick ratio of 0.50 and a debt-to-equity ratio of 1.59. NiSource has a 12 month low of $23.78 and a 12 month high of $31.87.

Institutional Trading of NiSource

A number of large investors have recently added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new position in shares of NiSource during the 1st quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. boosted its holdings in NiSource by 67.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,075 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 434 shares during the period. Boyd Watterson Asset Management LLC OH purchased a new position in NiSource during the 4th quarter valued at $30,000. Allworth Financial LP boosted its holdings in NiSource by 161.0% during the 1st quarter. Allworth Financial LP now owns 1,099 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 678 shares during the period. Finally, Romano Brothers AND Company purchased a new position in NiSource during the 4th quarter valued at $31,000. Institutional investors own 93.18% of the company’s stock.

Insider Activity at NiSource

In related news, SVP Kimberly S. Cuccia sold 11,157 shares of NiSource stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $28.54, for a total transaction of $318,420.78. Following the sale, the senior vice president now owns 20,329 shares of the company’s stock, valued at approximately $580,189.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.56%. NiSource’s payout ratio is currently 68.03%.

NiSource Company Profile

(Get Free Report)

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 Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.