Tropical Storm Nadine is getting stronger, and forecasts predict the storm will become a hurricane on Thursday, according to data from the National Hurricane Center.

Nadine was about 820 miles east of the Lesser Antilles islands in the Caribbean Sea as of late Wednesday and is moving northwest at a rate of about 16 miles per hour.

The storm's strongest winds have reached 70 mph, and the National Hurricane Center anticipates those winds will reach 74 mph on Thursday, which would be fast enough to merit its classification as a Category 1 hurricane.

If Nadine's winds do reach 74 mph and the storm becomes a hurricane, it would become the eighth hurricane of the 2012 season. But projections show Nadine turning north and then east, meaning it's unlikely the path will reach land.

September usually signals the winding down of the most potent part of hurricane season, meaning tropical storm activity typically slows around this time. Storms are also expected to be hindered by El Nino, a warm ocean current that flows from the equator and makes it harder for tropical storms to gain strength. El Nino is forecasted to arrive sometime this month.

As hurricane season begins winding down, it seems Hurricane Isaac may be the most powerful storm of 2012. Disaster modeling firm Eqecat projected that damages from Isaac could cost as much as $1.5 billion.