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NiSource Inc logo

NiSource Inc

NI

NYSEUtilitiesRegulated Gas

Open in GoAI

Previous close

$40.63

−$1.01 · -2.43%

Aug 21, 3:59 PM ET

Pre-market

$40.62

−$0.01 · -0.02%

Aug 24, 5:58 AM ET

NI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

73

Undervalued

Momentum

47

Neutral

Sentiment

64

Bullish

Risk resilience

84

Low Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

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.

Industry
Regulated Gas
Sector
Utilities
Headquarters
US
CEO
Lloyd Yates
Listed since
Feb 21, 1973
Employees
7,703

Market position

Day range

Current $40.63

52-week range

Current $40.63

Open
$42.38
Previous close
$41.64
Volume
4.05M
0.8× average
Average volume
5.06M
Average daily volume
Market cap
19.48B USD
Beta
0.55
Market reference 1
50-day average
$45.575
-10.85% below average
200-day average
$45.1696
-10.05% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
35.85B USD
P/E (TTM)
21.38×
P/B (TTM)
2.04×
P/S (TTM)
2.83×
EV / EBITDA
11.77×
Earnings yield
4.71%
Free cash flow yield
-2.13%
Dividend yield
2.90%

Profitability & efficiency

Gross margin
50.76%
Operating margin
27.03%
Net margin
13.15%
Return on equity
9.84%
Return on assets
2.54%
Return on invested capital
4.50%

Financial health

Debt / equity
1.83×
Current ratio
0.69×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends55%40%24%8%Gross margin, FY2021: 41.87%Gross margin, FY2022: 38.47%Gross margin, FY2023: 45.00%Gross margin, FY2024: 51.47%Gross margin, FY2025: 50.40%Operating margin, FY2021: 20.55%Operating margin, FY2022: 21.64%Operating margin, FY2023: 23.53%Operating margin, FY2024: 26.68%Operating margin, FY2025: 27.58%Net margin, FY2021: 11.94%Net margin, FY2022: 13.74%Net margin, FY2023: 12.97%Net margin, FY2024: 13.94%Net margin, FY2025: 13.99%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 41.87%. Gross margin FY2022 38.47%. Gross margin FY2023 45.00%. Gross margin FY2024 51.47%. Gross margin FY2025 50.40%. Operating margin FY2021 20.55%. Operating margin FY2022 21.64%. Operating margin FY2023 23.53%. Operating margin FY2024 26.68%. Operating margin FY2025 27.58%. Net margin FY2021 11.94%. Net margin FY2022 13.74%. Net margin FY2023 12.97%. Net margin FY2024 13.94%. Net margin FY2025 13.99%.

Income trends

Revenue

6.64B USD+21.76%

Operating income

1.83B USD+25.86%

Net income

929.5M USD+22.24%
Income trends across reported periods7.25B USD4.83B USD2.4B USD−20.83M USDRevenue, FY2021: 4.9B USDRevenue, FY2022: 5.85B USDRevenue, FY2023: 5.51B USDRevenue, FY2024: 5.46B USDRevenue, FY2025: 6.64B USDOperating income, FY2021: 1.01B USDOperating income, FY2022: 1.27B USDOperating income, FY2023: 1.3B USDOperating income, FY2024: 1.46B USDOperating income, FY2025: 1.83B USDNet income, FY2021: 584.9M USDNet income, FY2022: 804.1M USDNet income, FY2023: 714.3M USDNet income, FY2024: 760.4M USDNet income, FY2025: 929.5M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.9B USD. Revenue FY2022 5.85B USD. Revenue FY2023 5.51B USD. Revenue FY2024 5.46B USD. Revenue FY2025 6.64B USD. Operating income FY2021 1.01B USD. Operating income FY2022 1.27B USD. Operating income FY2023 1.3B USD. Operating income FY2024 1.46B USD. Operating income FY2025 1.83B USD. Net income FY2021 584.9M USD. Net income FY2022 804.1M USD. Net income FY2023 714.3M USD. Net income FY2024 760.4M USD. Net income FY2025 929.5M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue6.64B USD5.46B USD5.51B USD5.85B USD4.9B USD
Cost of goods sold3.29B USD2.65B USD3.03B USD3.6B USD2.85B USD
Gross profit3.35B USD2.81B USD2.48B USD2.25B USD2.05B USD
Selling, general, and administrative—13.5M USD24M USD−27.6M USD−35.5M USD
Operating expenses1.52B USD1.35B USD1.18B USD984.9M USD1.04B USD
Interest income10.2M USD10.4M USD9M USD4.3M USD4M USD
Interest expense661.9M USD517.2M USD489.6M USD360.5M USD341.1M USD
Depreciation and amortization1.17B USD1.04B USD908.2M USD820.8M USD748.4M USD
Operating income1.83B USD1.46B USD1.3B USD1.27B USD1.01B USD
Net income929.5M USD760.4M USD714.3M USD804.1M USD584.9M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
82%
9 beats, 2 misses, 0 met estimates
Average EPS surprise
+6.21%
11 comparable reports
Latest EPS result
0.16
Estimate 0.16 · Beat by 1.39%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.130.80.470.13Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 12, 2025: actual 0.49, estimate 0.479, surprise +2.28%, Beat. Q2 2025, reported May 7, 2025: actual 0.98, estimate 0.896, surprise +9.37%, Beat. Q3 2025, reported Aug 6, 2025: actual 0.22, estimate 0.205, surprise +7.32%, Beat. Q4 2025, reported Oct 29, 2025: actual 0.19, estimate 0.2, surprise -5.00%, Miss. Q1 2026, reported Feb 11, 2026: actual 0.51, estimate 0.496, surprise +2.93%, Beat. Q2 2026, reported May 6, 2026: actual 1.06, estimate 1.05, surprise +0.95%, Beat. Q3 2026, reported Aug 5, 2026: actual 0.16, estimate 0.158, surprise +1.39%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.21, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates2.63B2.1B1.57B1.04BQ1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 12, 2025: actual 1.59B USD, estimate 1.78B USD, surprise -10.57%, Miss. Q2 2025, reported May 7, 2025: actual 2.18B USD, estimate 2.16B USD, surprise +1.22%, Beat. Q3 2025, reported Aug 6, 2025: actual 1.28B USD, estimate 1.21B USD, surprise +5.74%, Beat. Q4 2025, reported Oct 29, 2025: actual 1.27B USD, estimate 1.2B USD, surprise +6.12%, Beat. Q1 2026, reported Feb 11, 2026: actual 1.9B USD, estimate 1.43B USD, surprise +33.03%, Beat. Q2 2026, reported May 6, 2026: actual 2.36B USD, estimate 2.52B USD, surprise -6.30%, Miss. Q3 2026, reported Aug 5, 2026: actual 1.34B USD, estimate 1.15B USD, surprise +17.02%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 1.34B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$51.17

25.94% upside
Past 12 months12-month forecastHigh $52.00Average $51.17Low $50.00

Rating distribution

22 ratings
Strong buy00%
Buy1673%
Hold627%
Sell00%
Strong sell00%

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.12

2025 complete year+27.3% since 2021

2026 partial: $0.90

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Oct 30, 2026

$0.30

Quarterly

Record Oct 30, 2026 · Payment Nov 20, 2026

Dividend

Ex-dividend Jul 31, 2026

$0.30

Quarterly

Record Jul 31, 2026 · Payment Aug 20, 2026

Dividend

Ex-dividend Apr 30, 2026

$0.30

Quarterly

Record Apr 30, 2026 · Payment May 20, 2026

Dividend

Ex-dividend Feb 3, 2026

$0.30

Quarterly

Record Feb 3, 2026 · Payment Feb 20, 2026

Dividend

Ex-dividend Oct 31, 2025

$0.28

Quarterly

Record Oct 31, 2025 · Payment Nov 20, 2025

Dividend

Ex-dividend Jul 31, 2025

$0.28

Quarterly

Record Jul 31, 2025 · Payment Aug 20, 2025

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ETFs holding NI

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
678.25M
Weight
0.03%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard S&P 500 ETF logoVanguard S&P 500 ETFVOO
Market value
559.26M
Weight
0.03%
AUM
1.7T USD
Expense ratio
0.03%
Price / 1D
$703.71+0.39%
State Street Utilities Select Sector SPDR ETF logoState Street Utilities Select Sector SPDR ETFXLU
Market value
328.52M
Weight
1.46%
AUM
22.48B USD
Expense ratio
0.08%
Price / 1D
$42.77-2.28%
iShares Core S&P 500 ETF logoiShares Core S&P 500 ETFIVV
Market value
269.1M
Weight
0.03%
AUM
891.84B USD
Expense ratio
0.03%
Price / 1D
$769.31+0.39%
State Street SPDR S&P 500 ETF logoState Street SPDR S&P 500 ETFSPY
Market value
247.61M
Weight
0.03%
AUM
817.87B USD
Expense ratio
0.09%
Price / 1D
$765.72+0.41%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
244.8M
Weight
0.13%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Mid-Cap ETF logoVanguard Morningstar Mid-Cap ETFVO
Market value
230.51M
Weight
0.10%
AUM
224.7B USD
Expense ratio
0.03%
Price / 1D
$82.97+0.53%
iShares Select Dividend ETF logoiShares Select Dividend ETFDVY
Market value
175.99M
Weight
0.74%
AUM
23.86B USD
Expense ratio
0.38%
Price / 1D
$164.09-0.16%

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