Financial Performance - NiSource reported Q3 2024 net income of $85.7 million, or $0.19 per diluted share, up from $77.0 million, or $0.17 per diluted share in Q3 2023, representing a 12% increase in net income year-over-year[1] - For the nine months ended September 30, 2024, net income was $515.8 million, or $1.14 per diluted share, compared to $436.1 million, or $0.98 per diluted share for the same period in 2023, reflecting an 18% increase[1] - Non-GAAP adjusted net income for Q3 2024 was $89.9 million, or $0.20 adjusted EPS, compared to $83.7 million, or $0.19 adjusted EPS in Q3 2023, marking a 2% increase[2] - For the nine months ended September 30, 2024, non-GAAP adjusted net income was $567.4 million, or $1.26 adjusted EPS, compared to $477.0 million, or $1.07 adjusted EPS in the same period of 2023, indicating a 19% increase[2] Guidance and Capital Expenditure - NiSource reaffirmed its 2024 non-GAAP adjusted EPS guidance of $1.70-1.74 and introduced 2025 guidance of $1.84-1.88, projecting annual growth of 6-8% from 2025 to 2029[2] - The company updated its 5-year capital expenditure plan to $19.3 billion, which is approximately $2.9 billion larger than the previous plan[2] Strategic Focus - NiSource is focusing on partnerships and investments in Indiana to improve reliability and reduce costs for customers, which are integral to its updated financial plan[3] - The company is also engaged in advanced discussions regarding its Integrated Resource Plan (IRP) to enhance operational efficiency[3] Market Presence and Sustainability - NiSource serves approximately 3.3 million natural gas customers and 500,000 electric customers across six states, emphasizing its significant market presence[8] - The company is committed to sustainability and has been recognized in various indices and lists for its efforts in diversity and environmental responsibility[8]

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Core Viewpoint - NiSource Inc. is positioned as a strong investment option in the utility sector due to its strategic investments in infrastructure modernization and the addition of clean assets to its portfolio [1] Growth Projections & Surprise History - The Zacks Consensus Estimate for 2024 earnings per share (EPS) has increased by 0.6% to $1.72 over the past 90 days [2] - The estimated sales for the third quarter of 2024 is $1.12 billion, reflecting a year-over-year increase of 8.6% [2] - NiSource's long-term earnings growth rate is projected at 6%, with an average earnings surprise of 20.6% over the past four quarters [2] Debt Position - NiSource's total debt to capital ratio stands at 57.85%, which is better than the industry average of 60.86% [3] - The time-to-interest earned ratio was 2.8 at the end of Q2 2024, indicating the company's capability to meet future interest obligations [3] Dividend Growth - NiSource has consistently paid dividends, with a current quarterly dividend of 26.5 cents per share, leading to an annualized dividend of $1.06, which is a 6% increase from the previous $1 [4] - The company anticipates an annual dividend payout ratio of 60-70%, with a current dividend yield of 3.15%, outperforming the Zacks S&P 500 composite's yield of 1.28% [4] Systematic Investments - NiSource is engaged in a long-term utility infrastructure modernization program, expecting investments between $3.3 billion and $3.5 billion for 2024 [5] - The company projects a total investment of $16.4 billion from 2024 to 2028, with an expected annual rate base growth of 8-10% during 2023-2028 due to capital expenditures [5] Business Model - NiSource operates a 100% regulated utility business model, with planned investments aimed at enhancing the reliability and safety of its services while efficiently serving an increasing customer base [6] Stock Price Performance - Over the past six months, NiSource's stock has returned 25.4%, surpassing the industry's growth of 20% [7]

Group 1: NiSource Inc (NI) - BofA Securities analyst Ross Fowler reinstated a Buy rating for NiSource Inc with a price target of $37, highlighting the company's strong regulatory and financial execution over the past 24 months [1] - The new senior management team has been effective, delivering results at the high end of expectations under various conditions [2] - Fowler expects capital upside from data centers, anticipated updates, and multiple expansions from ongoing rate case resolutions, supported by a robust balance sheet [2] Group 2: CenterPoint Energy, Inc (CNP) - Fowler assigned a Neutral rating to CenterPoint Energy with a price target of $29, noting that the company is navigating political and regulatory challenges following its response to Hurricane Beryl [1][3] - The analyst forecasts EPS of $1.64, $1.74, and $1.85 for FY24, FY25, and FY26, compared to consensus estimates of $1.62, $1.73, and $1.86, respectively [4] - While the direct financial impact from Hurricane Beryl is likely manageable due to Texas storm recovery mechanisms, ongoing investigations and a pending general rate case suggest near-term multiple recovery is unlikely [3]

Denis Shevchuk NiSource Inc. (NYSE:NI) comprises five Columbia Midwestern and mid-Atlantic gas local distribution utility companies (LDCs) and one gas and electric utility, NIPSCO. The company offers investors a 3.16% dividend and a relatively low beta of 0.50. Several months ago, NiSource's equity market capitalization was $10.8 billion. It is now $15.0 billion, an increase of 39%. The company's stock price has increased 28% and is now trading at the top of its 52-week range because of expected interest ra ...

Company Overview - NiSource reported Q2 2024 operating earnings per share (EPS) of 21 cents, exceeding the Zacks Consensus Estimate of 15 cents by 40%, and showing a 90.9% increase from the previous year's 11 cents [2] - On a GAAP basis, the EPS was 19 cents compared to 9 cents in the prior-year quarter [2] Revenue and Expenses - Total operating revenues were $1.08 billion, missing the Zacks Consensus Estimate of $1.16 billion by 6.8%, and decreased by 0.9% from $1.09 billion in the prior-year quarter [3] - Total operating expenses were $847.7 million, down 8% from $921.1 million in the prior-year quarter, attributed to lower energy costs [4] - Operating income increased to $237 million, a 40.3% rise from $168.9 million in the previous year [4] Sales Performance - Total gas distribution in Sales and Transportation was 109.6 Million British Thermal Units per day (MMDth), down 5.1% from 115.5 MMDth in the prior-year quarter [5] - Total electric sales reached 4,018.6 gigawatt-hours (GWh), up 6.6% from 3,770.7 GWh in the prior-year quarter [5] Financial Position - Cash and cash equivalents as of June 30, 2024, were $0.101 billion, a significant decrease from $2.25 billion as of December 31, 2023 [6] - Long-term debts as of June 30, 2024, were $12.81 billion, up from $11.06 billion as of December 31, 2023 [6] - Net cash flows from operating activities in the first half of 2024 were $0.902 million, down from $1.19 billion in the same period last year [6] Guidance and Outlook - The company expects 2024 non-GAAP earnings in the range of $1.70-1.74 per share, with the Zacks Consensus Estimate at $1.72 per share [7] - NiSource anticipates an earnings CAGR of 6-8% through 2028 and capital expenditure of $16.4 billion for the 2024-2028 period [7] - Estimates for the stock have been trending upward, indicating a promising outlook [10] Industry Comparison - NiSource is part of the Zacks Utility - Electric Power industry, where IdaCorp reported revenues of $451.04 million, a year-over-year increase of 9%, and an EPS of $1.71 compared to $1.35 a year ago [11] - IdaCorp is expected to post earnings of $2.16 per share for the current quarter, reflecting a 4.4% increase from the prior-year quarter [12]

Company Overview - NiSource (NI) is a utilities stock headquartered in Merrillville, with a price change of 23.24% year-to-date [3] - The company currently pays a dividend of $0.26 per share, resulting in a dividend yield of 3.24%, which is slightly below the Utility - Electric Power industry's yield of 3.34% and significantly higher than the S&P 500's yield of 1.56% [3] Dividend Performance - NiSource's annualized dividend of $1.06 has increased by 6% from the previous year [4] - Over the last five years, NiSource has raised its dividend five times, achieving an average annual increase of 6.06% [4] - The current payout ratio is 60%, indicating that the company distributes 60% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year 2024, the Zacks Consensus Estimate predicts earnings of $1.72 per share, reflecting a year-over-year growth rate of 7.50% [5] Investment Appeal - NiSource is considered an attractive dividend play and a compelling investment opportunity, currently holding a Zacks Rank of 2 (Buy) [7]

Core Insights - The article emphasizes the importance of confirming trends in short-term investing to avoid losses and ensure profitability [1] - A unique short-term trading strategy called "Recent Price Strength" helps identify stocks with strong fundamentals that can maintain their upward momentum [2] Company Analysis: NiSource (NI) - NiSource has shown a solid price increase of 15.2% over the past 12 weeks, indicating investor confidence in its potential upside [3] - The stock has also increased by 5.2% in the last four weeks, suggesting that the upward trend is still intact [4] - Currently, NiSource is trading at 97.6% of its 52-week high-low range, indicating a potential breakout [4] - The stock holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [5] - The Zacks Rank system has a strong track record, with Zacks Rank 1 stocks averaging a +25% annual return since 1988 [6] - NiSource also has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [6] - The current price trend for NiSource is expected to remain positive in the near future [7] Investment Strategy - The "Recent Price Strength" screen identifies several stocks that meet the criteria for potential investment, suggesting a broader opportunity for investors [7] - The article highlights the importance of backtesting stock-picking strategies to ensure past profitability, which can be facilitated by tools like the Zacks Research Wizard [8]

NiSource Inc.'s (NI) systematic investment plans to modernize infrastructure should further enhance the reliability of its operations. The company continues to add clean assets to its portfolio, which helps boost its overall performance. Given its growth opportunities, NiSource makes for a solid investment option in the utility sector. Let's focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment. Growth Projections & Surprise History The Zacks Consensus Estima ...