NiSource Inc (NI)

In the past six months (January 2025 - June 2025), NiSource's stock price has experienced some notable movements. The company's stock rose by 2.92% to $40.51 following its first-quarter 2025 earnings announcement on May 7, 2025, as it surpassed analyst expectations with an adjusted EPS of $0.98, beating the forecast of $0.90. Despite revenue falling short of predictions, the positive earnings beat contributed to the stock's increase. NiSource also priced two tranches of SEC-registered senior unsecured notes in June 2025, raising $1.65 billion in aggregate principal, with net proceeds intended for general corporate purposes including capital expenditures and debt repayment. Over the past six months, the stock has seen an 8.76% increase, and a 1.89% increase over the past 30 days as of June 30, 2025. The stock reached a 52-week high of $41.45 on March 4, 2025.

Demand for NiSource's natural gas and electricity products and services is subject to seasonality. Demand for natural gas typically increases during colder months for heating, while electricity demand can rise during warmer months due to increased air conditioning usage. Fluctuations in weather from "normal" historical averages can materially impact energy sales. Residential and commercial usage is sensitive to changes in commodity costs for gas and electricity, with usage potentially declining as costs increase. Economic conditions, such as unemployment, consumption, and consumer confidence, also influence customer demand.

NiSource, Inc. is one of the largest fully regulated utility companies in the United States, operating primarily in the utilities sector. The company's core business involves natural gas distribution and electric operations, serving approximately 3.7 million natural gas customers and 500,000 electric customers. NiSource's major products include the safe and reliable delivery of natural gas for heating, cooking, and industrial processes, and the generation, transmission, and distribution of electricity. The company is headquartered in Merrillville, Indiana, and generates nearly all its revenues from regulated utility operations and investments. NiSource is actively transitioning its generation portfolio towards renewable energy sources, with plans to retire all coal-fired generation by 2028 and replace it with cleaner alternatives like wind, solar, and battery storage technologies.

NiSource's operations span across six states in the Midwest and Northeast/Mid-Atlantic regions: Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. The company's electric operations are primarily concentrated in northern Indiana. NiSource holds a significant market position as the largest natural gas distributor in its operating regions and NIPSCO, a NiSource subsidiary, is the second-largest electric utility in Indiana.

NiSource has demonstrated a strong brand reputation, particularly in customer service and sustainability. Four of its operating companies were rated "easiest to do business with" in Escalent's 2025 Trusted Brand & Customer Engagement: Residential report. NiSource Inc. was also named to the Dow Jones Sustainability Indices (DJSI) for the 11th consecutive year in 2024, recognizing its leadership in sustainable business practices. The company has shown a commitment to diverse suppliers, aiming to reach 25% diverse supplier spend by 2025, and held its first Supplier Diversity Day in November 2022 to strengthen relationships with key suppliers. Additionally, NiSource's mobile apps for Columbia Gas and NIPSCO have been successful, with over 400,000 customer downloads within a year of launch, facilitating bill payments and service management.

NiSource Inc. has a mixed ownership structure, with a significant portion held by institutional investors. Approximately 92.41% of the company's shares are owned by institutional shareholders, 1.61% by NiSource insiders, and 5.98% by retail investors. Other sources indicate institutional ownership ranging from approximately 59.05% to 88.81%, with insider ownership around 0.28% and public/individual investors holding about 10.91% to 29.76%. Major institutional owners of NiSource include Vanguard Group Inc., BlackRock, Inc., T. Rowe Price Investment Management, Inc., State Street Corp., Deutsche Bank Ag, Geode Capital Management LLC, Jennison Associates LLC, Fmr LLC, Jpmorgan Chase Co., and Cohen Steers Inc.