NiSource Backs 2016 Adj. Operating EPS View

(RTTNews) - NiSource Inc. (NI) reaffirmed that it expects to deliver non-GAAP net operating earnings per share of $1.00 to $1.10 in 2016. It also expects to make approximately $1.4 billion in planned infrastructure enhancement investments during the year. This 2016 earnings and investment guidance provides the starting point for NiSource's long-term annual earnings per share and dividend growth projections of 4-6 percent annually.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.06 per share for fiscal 2016. Analysts' estimates typically exclude special items.

NiSource remains committed to maintaining solid, investment grade credit ratings. Standard & Poor's rates NiSource at BBB+, Moody's rates NiSource at Baa2, and Fitch rates NiSource at BBB- with a positive outlook. As of December 31, 2015, NiSource maintained $1.2 billion in net available liquidity, consisting of cash and available capacity under credit facilities.

For the three months ended Dec. 31, 2015, NiSource's net operating earnings were $99.6 million, or $0.31 per share, compared with $79.6 million, or $0.25 per share, for the same period in 2014. On a GAAP basis, income from continuing operations for the three months ended Dec. 31, 2015 was $64.4 million, or $0.20 per share, compared with $79.5 million, or $0.25 per share, for the same period in 2014.