NiSource Inc. (NYSE:NI) Expected to Announce Quarterly Sales of $939.83 Million

Wall Street analysts expect that NiSource Inc. (NYSE:NI) will post $939.83 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for NiSource’s earnings. The lowest sales estimate is $923.36 million and the highest is $956.30 million. NiSource posted sales of $895.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The company is scheduled to report its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that NiSource will report full-year sales of $5.33 billion for the current year, with estimates ranging from $5.29 billion to $5.41 billion. For the next year, analysts forecast that the firm will report sales of $5.53 billion, with estimates ranging from $5.31 billion to $5.76 billion. Zacks’ sales averages are an average based on a survey of research firms that cover NiSource.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. NiSource had a net margin of 3.15% and a return on equity of 10.60%. During the same quarter in the prior year, the company earned $0.07 EPS.

Several analysts have weighed in on NI shares. TheStreet raised NiSource from a “c+” rating to a “b-” rating in a report on Monday, May 13th. Bank of America cut NiSource from a “buy” rating to a “neutral” rating and set a $27.37 price objective for the company. in a report on Monday, April 22nd. Wolfe Research cut NiSource from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, July 24th. Finally, Zacks Investment Research cut NiSource from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.32.

In other news, VP Joseph W. Mulpas sold 12,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $29.78, for a total value of $357,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Jesanis sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $29.01, for a total value of $174,060.00. Following the completion of the sale, the director now directly owns 32,997 shares of the company’s stock, valued at approximately $957,242.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,405 shares of company stock valued at $2,768,990. Insiders own 0.35% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. bought a new stake in NiSource in the 2nd quarter valued at $31,000. Neo Ivy Capital Management bought a new stake in NiSource in the 2nd quarter valued at $31,000. Pearl River Capital LLC bought a new stake in NiSource in the 2nd quarter valued at $34,000. Cornerstone Advisors Inc. raised its stake in NiSource by 36.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 351 shares during the period. Finally, Harvest Group Wealth Management LLC bought a new stake in NiSource in the 1st quarter valued at $52,000. 93.77% of the stock is owned by institutional investors.

NYSE NI traded up $0.34 on Friday, hitting $29.03. 3,030,038 shares of the company were exchanged, compared to its average volume of 2,917,816. The firm’s 50 day simple moving average is $29.16. The company has a market cap of $10.75 billion, a P/E ratio of 22.33, a P/E/G ratio of 4.09 and a beta of 0.23. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.40. NiSource has a 1-year low of $24.19 and a 1-year high of $30.34.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 61.54%.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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Earnings History and Estimates for NiSource (NYSE:NI)

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