NiSource Reports Strong 1Q and Raises Earnings Guidance; Increasing Our Fair Value Estimate
We are increasing our fair value estimate to $23 from $21 per share and reaffirming our narrow moat and stable moat trend ratings after NiSource reported strong 2017 first-quarter earnings, raised its 2017 earnings guidance, and reaffirmed its long-term capital expenditure forecast.At its Analyst Day in March, NiSource initiated a 2018-20 annual capital expenditure guidance range of $1.6 billion-$1.8 billion. The company had increased its 2017 planned capital expenditures to $1.6 billion-$1.7 b...
NiSource is an energy holding company. Through its subsidiaries, the company is a natural gas distribution company. The company's reportable segments are: Gas Distribution Operations and Electric Operations. For its gas distribution operations, through its wholly-owned subsidiary, NiSource Gas Distribution Group, Inc., the company owns distribution subsidiaries that provide natural gas to residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland and Massachusetts. Through its electric operations, the company generates, transmits and distributes electricity through its subsidiary, Northern Indiana Public Service Company LLC, and engages in wholesale and transmission transactions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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