NiSource Inc. (NYSE:NI) 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.
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. (NYSE:AEP) 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 (NYSE:DTE) reported first-quarter 2018 operating earnings per share of $1.91, beating the Zacks Consensus Estimate of $1.89 by 1.06%.
Entergy Corporation (NYSE:ETR) 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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American Electric Power Company, Inc. (AEP): Free Stock Analysis Report
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