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NiSource (NI) Q1 Earnings In Line, Infrastructure in Focus

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NiSource Inc. (NI - Free Report) reported first-quarter 2018 operating earnings of 77 cents per share, in line with the Zacks Consensus Estimate. Earnings were 8.5% higher than the year-ago quarter.

The company reported GAAP earnings of 82 cents per share compared with 65 cents in the year-ago period. The difference between GAAP and operating earnings was due to 5 cents impact of one-time non-recurring items.

Highlights of the Release

During the quarter, the company increased its quarterly dividend by 11.4% to 78 cents.

During and after the end of the quarter, the company applied for rate hikes in different Utility Commissions.

The company received approval on a rate hike application filed with Massachusetts Department of Public Utilities. The new rates will become applicable from May 1, 2018.

NiSource, Inc Price, Consensus and EPS Surprise
 

NiSource, Inc Price, Consensus and EPS Surprise | NiSource, Inc Quote

Guidance

NiSource reiterated its 2018 capital utility infrastructure investment of $1.7-$1.8 billion.

NiSource’s long-term goal is to improve its earnings and dividend per share by 5-7% annually through 2020.

NiSource intends to invest within $1.6-$1.8 billion annually in its utility infrastructure programs through 2020.

Zacks Rank

NiSource carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Utility Releases

American Electric Power Co. Inc. (AEP - Free Report) reported first-quarter 2018 adjusted earnings per share (EPS) of 96 cents, missing the Zacks Consensus Estimate of $1.00 per share by 4%.

DTE Energy (DTE - Free Report) reported first-quarter 2018 operating earnings per share of $1.91, beating the Zacks Consensus Estimate of $1.89 by 1.06%.

Entergy Corporation (ETR - Free Report) reported first-quarter 2018 adjusted earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.31 by 11.5%.

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