Research Analysts Offer Predictions for NiSource Inc.’s Q2 2024 Earnings (NYSE:NI)

NiSource Inc. (NYSE:NIFree Report) – Investment analysts at Zacks Research cut their Q2 2024 earnings per share estimates for shares of NiSource in a research note issued on Wednesday, May 29th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings of $0.14 per share for the quarter, down from their previous forecast of $0.20. The consensus estimate for NiSource’s current full-year earnings is $1.71 per share. Zacks Research also issued estimates for NiSource’s Q2 2025 earnings at $0.19 EPS.

NiSource (NYSE:NIGet Free Report) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.07 billion. NiSource had a return on equity of 9.56% and a net margin of 14.23%. During the same period last year, the company earned $0.77 earnings per share.

NI has been the topic of a number of other reports. StockNews.com upgraded shares of NiSource from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Barclays boosted their price objective on NiSource from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Evercore ISI raised their target price on NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $31.00 price target (up from $30.00) on shares of NiSource in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.71.

Check Out Our Latest Report on NiSource

NiSource Stock Up 1.7 %

Shares of NiSource stock opened at $29.11 on Monday. NiSource has a 12-month low of $22.86 and a 12-month high of $29.44. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average price of $28.07 and a two-hundred day moving average price of $26.90. The stock has a market capitalization of $13.05 billion, a P/E ratio of 19.03, a PEG ratio of 2.84 and a beta of 0.51.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be given a $0.265 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.64%. NiSource’s dividend payout ratio is currently 69.28%.

Insider Transactions at NiSource

In other NiSource news, SVP Melanie B. Berman sold 3,742 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $27.96, for a total value of $104,626.32. Following the sale, the senior vice president now owns 19,978 shares of the company’s stock, valued at approximately $558,584.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC boosted its holdings in shares of NiSource by 23.8% in the 1st quarter. Lindbrook Capital LLC now owns 1,922 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 369 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of NiSource by 3.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 13,176 shares of the utilities provider’s stock valued at $350,000 after buying an additional 405 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of NiSource by 4.9% in the fourth quarter. Raymond James Trust N.A. now owns 8,930 shares of the utilities provider’s stock valued at $237,000 after buying an additional 414 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of NiSource by 11.1% in the first quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock valued at $124,000 after buying an additional 449 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in NiSource by 7.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,185 shares of the utilities provider’s stock worth $164,000 after buying an additional 451 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Company Profile

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NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

Further Reading

Earnings History and Estimates for NiSource (NYSE:NI)

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