NiSource (NI) is a Top Dividend Stock Right Now: Should You Buy?

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]