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NiSource (NI) Q4 Earnings Top On Expanded Customer Base

Published 02/19/2018, 10:33 PM
Updated 07/09/2023, 06:31 AM

NiSource Inc. (NYSE:NI) reported fourth-quarter 2017 operating earnings of 33 cents per share, surpassing the Zacks Consensus Estimate by a penny. However, earnings were in line with the year-ago quarter.

The company reported a GAAP loss of 16 cents per share against an income of 28 cents in the year-ago period. The difference between the GAAP and operating earnings was due to 49 cents impact of one-time non-recurring items.

NiSource, Inc Price, Consensus and EPS Surprise

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

Highlights of the Release

During the year, the company successfully refinanced nearly $1 billion of its long-term debts at favorable rates, expected to result in significant interest savings and positively impact its earnings.

The company invested nearly $1.7 billion during the year to strengthen its gas and electric utilities infrastructure by replacing 377 miles of priority natural gas pipeline and laying down 68 miles of underground electric cable.

During the year, the company added 28,000 new customers, driven by increased conversions to natural gas from other fuels and a healthy housing market.

Guidance

NiSource reiterated 2018 adjusted earnings in the range of $1.26-$1.32 per share and has plans to invest capital worth $1.7-$1.8 billion in 2018.

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

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

Zacks Rank

NiSource carries a Zacks Rank #4 (Sell).

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

Peer Releases

American Electric Power Co., Inc. (NYSE:AEP) reported fourth-quarter 2017 operating earnings per share of 85 cents, beating the Zacks Consensus Estimate of 81 cents by 4.9%.

NextEra Energy, Inc. (NYSE:NEE) reported fourth-quarter 2017 adjusted earnings of $1.25 per share, lagging the Zacks Consensus Estimate of $1.31 by 4.6%.

Dominion Energy Inc. (NYSE:D) reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%.

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American Electric Power Company, Inc. (AEP): Free Stock Analysis Report

NextEra Energy, Inc. (NEE): Free Stock Analysis Report

NiSource, Inc (NI): Free Stock Analysis Report

Dominion Energy Inc. (D): Free Stock Analysis Report

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