NiSource (NYSE:NI) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

NiSource (NYSE:NI - Get Free Report) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.02, Briefing.com reports. NiSource had a net margin of 12.98% and a return on equity of 10.10%. During the same quarter last year, the company posted $0.77 earnings per share. NiSource updated its FY 2024 guidance to 1.700-1.740 EPS and its FY24 guidance to $1.70-1.74 EPS.

NiSource Trading Down 1.2 %

Shares of NiSource stock traded down $0.35 on Wednesday, reaching $28.70. The company had a trading volume of 6,180,495 shares, compared to its average volume of 4,254,028. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 2.78 and a beta of 0.49. The firm's 50-day moving average price is $27.29 and its two-hundred day moving average price is $26.43. NiSource has a 1 year low of $22.86 and a 1 year high of $29.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.85 and a quick ratio of 0.76.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.06 dividend on an annualized basis and a yield of 3.69%. NiSource's dividend payout ratio (DPR) is presently 72.11%.

Insiders Place Their Bets

In other news, SVP Melanie B. Berman sold 11,141 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total value of $297,019.06. Following the sale, the senior vice president now owns 23,720 shares of the company's stock, valued at $632,375.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NI. StockNews.com upgraded NiSource from a "sell" rating to a "hold" rating in a research report on Saturday, February 24th. Barclays raised their price target on NiSource from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd.

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 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.