NiSource Inc (NI)

Over the past six months, NiSource's stock price has increased by 12.11%, trading at $46.98 as of May 8, 2026, with a market capitalization of $22.52 billion. In the past month, the stock experienced a slight decrease of 2.32%. NiSource reported adjusted earnings per share (EPS) of $0.51 in Q4 2025, alongside total quarterly revenue of $6.642 billion. In Q1 2026, the company reported consolidated adjusted EPS of $1.06, exceeding the forecast, but revenue of $2.38 billion fell short of the $2.6 billion forecast. NiSource secured a 515-megawatt power deal with an Alphabet subsidiary and expanded an existing Amazon agreement, which are expected to significantly boost the company's long-term growth outlook, increasing its long-term EPS growth forecast to 9%-10% through 2033.

Demand for NiSource's products and services exhibits seasonality, particularly driven by winter heating demand. The company's financial results often reflect this, with the first quarter typically showing seasonal strength in revenue due to higher heating needs. Management commentary has highlighted consistent customer demand across both its gas and electric operating segments, with ongoing investments in system reliability and seasonal peak demand response protocols supporting uninterrupted service during periods of heightened energy use.

NiSource, Inc. is an American energy holding company based in Merrillville, Indiana, and is one of the largest fully regulated utilities in the United States. It operates in the multi-utilities industry, focusing on natural gas distribution and electric utility services, serving approximately 3.3 million natural gas customers and 500,000 electric customers. NiSource delivers natural gas and generates, transmits, and distributes electricity. The company operates through its local Columbia Gas brand for natural gas and Northern Indiana Public Service Company LLC (NIPSCO) for both natural gas and electric services. NiSource is transitioning to cleaner energy sources, aiming for net-zero greenhouse gas emissions by 2040 and phasing out coal operations by 2028, investing in renewable energy and exploring low-carbon fuels.

NiSource operates in six states in the Midwest and Mid-Atlantic regions: Indiana, Ohio, Pennsylvania, Virginia, Maryland, and Kentucky. Its natural gas distribution operations serve approximately 3.3 million customers across these states, while its electric utility operations serve nearly 500,000 customers exclusively in northern Indiana. The company's infrastructure includes thousands of miles of pipelines concentrated in these regions, emphasizing localized service to meet diverse regional demands.

NiSource has maintained a positive brand reputation in the past year, with several of its subsidiaries receiving recognition for customer trust. In July 2024, NiSource Inc. subsidiaries were named among the most trusted utility brands by Escalent. Columbia Gas of Ohio scored highest among natural gas utilities in the Midwest Region for the third consecutive year, and NIPSCO ranked in the top three of its Midwest Region combination peers. These findings were based on factors such as customer advocacy, safety and reliability, and environmental focus. No significant negative events impacting NiSource's brand reputation in the past year were found.

NiSource Inc.'s ownership is predominantly held by institutional investors, who collectively hold a significant portion of the company's stock, ranging from 88.81% to 98.33%. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., T. Rowe Price Investment Management, Inc., and State Street Corp. Other notable institutional shareholders include Geode Capital Management, LLC, Jennison Associates LLC, FMR LLC, and Capital International Investors. Individual insider ownership remains minimal, typically between 0.19% and 0.28%.