NiSource Reports Steady Q1 2023 Earnings
As of May 3rd, 2023, the utilities provider NiSource (NYSE:NI) reported their quarterly earnings. The business generated $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. In addition, they produced a revenue of $1.97 billion and exceeded the consensus estimate by approximately $30 million.
Despite toughing out an economically challenging year during the pandemic, NiSource has been able to maintain its net margin of 11.72%, with a return on equity of 11.14%. This is undoubtedly because customers are requiring more resources during this period, and as an energy and natural gas company, supplies have met demands. Compared to last year’s same quarter earnings per share that was at $0.75, it’s evident that NiSource’s current earnings per share demonstrates notable growth.
Moreover, Senior Vice President Kimberly S.Cuccia sold over 11k shares equating to roughly $318 thousand on May 8th at an average price rate of $28.54 per share before settling down with slightly above double her initial number shares in NiSource stock.
NiSource has demonstrated market resilience despite economic fluctuations and other pressures—low market capitalization of $11.’36 billion showed no significant impact on trading activities as NI opened at $27.50 on Thursday post-earnings results release.
Lastly, there is evidence that insiders own only 0.24% percent of NiSoure stocks leading to the assumption that institutional investors own most stocks in comparison.
The utility industry appears unexciting due to its inherent lack of aggressive volatility; given how many traders have ended up with tumultuous losses relying on short term swings however long-term investments based on secure companies tend to benefit investors exponentially over time meaning NiSource can make a great addition to any portfolio in the foreseeable future.
NiSource Inc.’s Estimated Q2 2024 Earnings Per Share Revised Downwards, Drawing Attention from Investment Analysts and Hedge Funds
NiSource Inc. (NYSE: NI) has recently caught the attention of investment analysts and hedge fund managers alike, as its estimated Q2 2024 earnings per share (EPS) have been revised downwards by Zacks Research. The latest research note issued to investors by analyst J. Saha predicts that NiSource, a utilities provider, will post earnings of $0.20 per share for the quarter, compared to the previous estimate of $0.21 EPS.
This recent analysis has brought NiSource under scrutiny, with various brokerages weighing in on its stock rating and price target. However, based on Bloomberg.com data, it currently holds a consensus rating of “Moderate Buy” with an average price target of $29.71.
The company’s performance also seems to be capturing the interest of hedge funds, who have been making modifications to their holdings recently. Oregon Public Employees Retirement Fund acquired an additional 364 shares during the 1st quarter, now owning 31,371 shares worth approximately $877,000; while Benjamin F. Edwards & Company Inc decided to lift its stake in shares by an impressive 67.7% during the 4th quarter.
Overall, mixed opinions abound regarding NiSource’s future performance and whether it is a worthwhile investment at this stage or not. One thing that is clear though is that there are many entrants in this field and that proper risk-management strategies must be taken if one is considering investing in such volatile securities.
As investors gear up for the upcoming earnings reports from all companies including NiSource we can expect some high volume trading as shares bump around amid anxiety over any negative surprises while “waiting for news.” Such volatility can lead both to risk but also opportunity so nimble traders who are able to appropriately time market fluctuations may find themselves capitalizing on unexpected shifts throughout this earnings season.
Note: This article is purely informative and should not be taken as investment advice. Consult a licensed financial advisor before making any investment decisions.