Inside the research
NiSource Inc.
NI Research profile · latest available data
Price overview
$39.42
▲ +0.30 (+0.8%)
| 52w hi | $48.75 |
|---|---|
| 52w lo | $39.12 |
| Vol | 5.00M |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.75
| Short | -0.43 |
|---|---|
| Medium | -0.97 |
| Long | -0.93 |
computed 2026-09-27
Key fundamentals
NiSource Inc.
Utilities · Utilities - Regulated Gas
| Market cap | $18.90B |
|---|---|
| Enterprise value | $38.60B |
| Trailing P/E | 20.97x |
| Forward P/E | 17.50x |
| EV / EBITDA | 12.76x |
| P / S (ttm) | 2.75x |
| Profit margin | 13.2% |
| Return on equity | 8.5% |
| Revenue growth | +4.6% |
| Earnings growth | -58.4% |
| Debt / equity | 146.65 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.04 | |
| Sector | -0.10 | |
| Technical | -0.46 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service lines; and 310 miles of transmission main pipeline in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. It also generates, transmits, and distributes electricity to approximately 0.5 million customers in various counties in the northern part of Indiana, as well as engages in wholesale electric and transmission transactions. It owns and operates steam coal generating stations in Wheatfield and Michigan City; combined cycle gas turbine in West Terre Haute; natural gas generating units in Wheatfield; hydro generating plants in Carroll County and White County; wind generating units in White County; and solar generating units in Sullivan County, Gibson County, Jasper County, and White County. The company was formerly known as NIPSCO Industries, Inc. and changed its name to NiSource Inc. in April 1999. NiSource Inc. was founded in 1847 and is headquartered in Merrillville, Indiana.
Risk Metrics
| Beta vs SPX | 0.33 |
|---|---|
| Corr SPX | 0.28 |
| Annual vol | 19.0% |
| Annual ret | +9.1% |
| Sharpe | 0.48 |
| Max DD | -20.3% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $51.14 |
|---|---|
| High / Low | $55.00 / $43.00 |
| Median | $52.00 |
| Analysts | 14 |
| Strong Buy | 2 | |
|---|---|---|
| Buy | 10 | |
| Hold | 2 | |
| Sell | 0 | |
| Strong Sell | 1 |
Recent rating actions
| 2026-05-07 | Wells Fargo | → Overweight |
| 2026-04-17 | Barclays | → Overweight |
| 2026-03-31 | Keybanc | → Overweight |
| 2026-03-05 | Evercore ISI Group | → In-Line |
| 2026-02-12 | Citigroup | → Neutral |
| 2026-01-20 | Wells Fargo | → Overweight |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-05 | Earnings Release, Exhibits | read |
| 2026-05-18 | Other Material Event, Exhibits | read |
| 2026-05-12 | Shareholder Vote, Exhibits | read |
| 2026-05-06 | Earnings Release, Exhibits | read |
| 2026-02-11 | Earnings Release, Exhibits | read |
| 2025-12-11 | Material Agreement, Material Obligation… | read |
| 2025-11-07 | Other Material Event, Exhibits | read |
| 2025-10-31 | Material Agreement, Other Material Event… | read |
| 2025-10-29 | Earnings Release, Exhibits | read |
| 2025-09-22 | Reg FD Disclosure, Exhibits | read |
| 2025-08-06 | Earnings Release, Exhibits | read |
| 2025-06-27 | Other Material Event, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-07-13 | Jesanis Michael E | J | 30.19K | — | |
| 2026-05-22 | Berman Melanie B. | EVP Administration & CHRO | Sell | 15.00K | $715.20K |
| 2026-05-21 | Yates Lloyd M | Director and President & | Sell | 19.91K | $950.07K |
| 2026-05-20 | BIRMINGHAM MELODY | EVP & Grp President, Util | Sell | 2.50K | $118.58K |
| 2026-05-14 | BIRMINGHAM MELODY | EVP & Grp President, Util | Sell | 10.00K | $471.85K |
| 2026-05-11 | Jesanis Michael E | Grant | 3.81K | $179.04K | |
| 2026-05-11 | Hersman Deborah | Grant | 3.81K | $179.04K | |
| 2026-05-11 | Lee Cassandra S. | Grant | 3.81K | $179.04K | |
| 2026-05-11 | McAvoy John | Grant | 3.81K | $179.04K | |
| 2026-05-11 | KABAT KEVIN T | Grant | 3.81K | $179.04K |
Flow & Concentration
| Insider 180d net | -$2.26M |
|---|---|
| Insider buys / sells | 0 / 4 |
| Insider bias | Sellers |
| 13F holders | 8 |
| Top-5 share | 95.6% |
| HHI | 3,806 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $1.31B | 27.62M |
| Fidelity / FMR LLC | $483.59M | 10.17M |
| Citadel Advisors | $189.35M | 3.98M |
| AQR Capital Management | $120.03M | 2.52M |
| Capital Research / Capital World | $97.31M | 2.05M |
| Bridgewater Associates | $67.05M | 1.41M |
| Renaissance Technologies | $35.53M | 747.30K |
| T. Rowe Price Group | $44.04K | 926.12K |
As of 2026-06-30
Dividends
| Yield (TTM) | 2.23% |
|---|---|
| $ / share (TTM) | $0.88 |
| 5y CAGR | +5.9% |
Annual dividend per share
| 2021 | $0.88 |
|---|---|
| 2022 | $0.94 |
| 2023 | $1.00 |
| 2024 | $1.06 |
| 2025 | $1.12 |
| 2026 | $0.60 |
SEC Filings
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $5.35B | -1.2% | |
| Gross profit | $1.21B | -9.4% | |
| Operating income | $1.30B | +3.3% | |
| Net income | $929.50M | +25.1% | |
| Cash from ops | $1.94B | +1.0% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $39.12 | $39.57 | $38.99 | $39.42 | 5.00M |
| Sep 24 | $39.35 | $39.54 | $38.95 | $39.12 | 6.58M |
| Sep 23 | $39.69 | $39.74 | $39.00 | $39.25 | 8.47M |
| Sep 22 | $40.39 | $40.53 | $39.87 | $39.88 | 7.12M |
| Sep 21 | $40.64 | $40.76 | $40.31 | $40.52 | 8.28M |
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