NiSource Stock | Analysis for March 2026, Price & Rating

NiSource

NYSE:NI

$ 45,97

+ $0,53 (1,17%)

45,97 $

+$0,53 (1,17%)

End-of-day quote: 03/27/2026

NiSource Stock Value

The analyst rating for NiSource is currently Outperform.

Outperform

NiSource Company Info

EPS Growth 5Y

7,56%

Market Cap

$21,75 B

Long-Term Debt

$15,20 B

Short Interest

2,38%

Quarterly earnings

05/07/2026 (E)

Dividend

$1,21

Dividend Yield

2,64%

Founded

1847

Industry

Utilities

Country

United States

ISIN Number

US65473P1057

Website

http://www.nisource.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$49,00

6.59%

Last Update: 03/27/2026

Analysts: 13

Highest Price Target $54,00

Average Price Target $49,00

Lowest Price Target $41,00

In the last five quarters, NiSource’s Price Target has risen from $28,81 to $41,13 - a 42,76% increase. Fourteen analysts predict that NiSource’s share price will increase in the coming year, reaching $49,00. This would represent an increase of 6,59%.

Top growth stocks in the utilities sector (5Y.)

What does NiSource do?

NiSource Inc. (NiSource) operates as an energy holding company. The company operates under the Public Utility Holding Company Act of 2005 whose primary subsidiaries are fully regulated natural gas and electric utility companies, serving approximately 3.8 million customers in six states. NiSource’s principal subsidiaries include NiSource Gas Distribution Group, Inc. (a holding company that owns Columbia of Kentucky, Columbia of Maryland, Columbia of Ohio, Columbia of Pennsylvania, and Columbia o...

NiSource Inc. (NiSource) operates as an energy holding company.

The company operates under the Public Utility Holding Company Act of 2005 whose primary subsidiaries are fully regulated natural gas and electric utility companies, serving approximately 3.8 million customers in six states. NiSource’s principal subsidiaries include NiSource Gas Distribution Group, Inc. (a holding company that owns Columbia of Kentucky, Columbia of Maryland, Columbia of Ohio, Columbia of Pennsylvania, and Columbia of Virginia), and a controlling interest in NIPSCO (a gas and electric company).

Business Strategy

The company’s business strategy focuses on providing safe and reliable service through its core, rate-regulated, asset-based utilities, with the goal of adding value to all of its stakeholders. The company’s utilities continue to advance its core safety, infrastructure and environmental investment programs, supported by complementary regulatory and customer initiatives across the six states in which the company operates.

Segments

NiSource has two reportable segments: Columbia Operations and NIPSCO Operations.

Columbia Operations

Columbia Operations provides natural gas to approximately 2.4 million residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. The company operates approximately 37,200 miles of distribution main pipeline plus the associated individual customer service lines and on transmission of main pipeline located in its service areas described above. Throughout the company’s service areas, it also had gate stations and other operations support facilities.

Due to open access and the deregulation of natural gas supplies, the company’s LDC customers can purchase gas directly from producers and marketers in an open, competitive market. Certain of the company’s subsidiaries are involved in programs that provide its residential and commercial customers the opportunity to purchase their natural gas requirements from third parties and use the company’s subsidiaries for transportation services. As of December 31, 2024, 33.9% of its residential customers and 41.2% of the company’s commercial customers participated in such programs.

The company is subject to seasonal fluctuations in sales. Revenues from the company gas distribution operations are more significant during the heating season, which is from October through May (year ended December 2024).

NIPSCO Operations

NIPSCO Gas

NIPSCO Gas distributes natural gas to approximately 0.9 million customers in northern Indiana. The company operates approximately 17,900 miles of distribution main pipeline plus the associated individual customer service lines and 690 miles of transmission main pipeline located in the company’s northern Indiana service areas. Throughout northern Indiana, the company also has gate stations and other operations support facilities.

NIPSCO Gas also operates in an open and competitive market which allows retail customers to purchase gas directly from producers and marketers. As of December 31, 2024, 6.7% of the company’s residential customers and 17.6% of its commercial customers participated in such programs.

The company is subject to seasonal fluctuations in sales. Revenues from the company’s gas distribution operations are more significant during the heating season, which is from October through May (for the year ended December 2024).

NIPSCO Electric

The company generates, transmits and distributes electricity to approximately 0.5 million customers in 20 counties in the northern part of Indiana and also engage in wholesale electric and transmission transactions. The company’s transmission system has voltages from 69,000 to 765,000 volts and consists of approximately 3,000 circuit miles. The company is interconnected with eight neighboring electric utilities. The company operates 66 transmission and 250 distribution substations and own approximately 311,300 poles. The company owns and operate generation assets as well as source power through PPAs. The company continues to transition its generation portfolio from coal-fired generation to lower-emission sources. The company has six owned renewable generation facilities in service: Rosewater, Indiana Crossroads Wind, Indiana Crossroads Solar, Dunns Bridge I Solar, Cavalry Solar and Storage and Dunns Bridge II Solar and Storage. Cavalry Solar and Storage went into service May 2024 and Dunns Bridge II Solar and Storage went into service in January 2025. As of December 31, 2024, the company has multiple PPAs that provide 600 MW of capacity, with contracts expiring between 2038 and 2040. The company also operates two hydroelectric generation facilities, a CCGT, and two coal generation facilities.

NIPSCO participates in the MISO transmission service and wholesale energy market. MISO is a nonprofit organization created in compliance with FERC regulations to improve the flow of electricity in the regional marketplace and to enhance electric reliability. Additionally, MISO is responsible for managing energy markets, transmission constraints and the day-ahead, real-time, Financial Transmission Rights and ancillary markets. NIPSCO has transferred functional control of its electric transmission assets to MISO, and transmission service for NIPSCO occurs under the MISO Open Access Transmission Tariff. NIPSCO generating units are dispatched by MISO which takes into account economics, reliability of the MISO system and unit availability. During the year ended December 31, 2024, NIPSCO generating units, inclusive of its owned renewable generation facilities, were dispatched to meet 55.4% of its overall system load, and the remainder of the overall system load was procured through PPAs and the MISO market.

The company’s NIPSCO Operations are subject to seasonal fluctuations in sales. Revenues from electric operations are more significant during the cooling season, which is primarily from June through September (for the fiscal year ending Dec 2024).

Regulations

NiSource’s service company and operating companies are subject to varying degrees of regulation by the FERC. As natural gas LDCs, Columbia of Maryland, Columbia of Ohio, Columbia of Pennsylvania, Columbia of Virginia, and NIPSCO have limited jurisdictional certificates to transport gas in the respective service territories into interstate commerce. As an electric company, NIPSCO has Market Based Rate authority and is a Transmission Owner subject to FERC jurisdiction.

As a Transmission Owner subject to the MISO Transmission Owners Agreement and Tariff, NIPSCO has various FERC jurisdictional obligations such as maintaining its Attachment O formula rates and corresponding protocols. NIPSCO also has FERC approvals to make affiliate transactions between itself and various JVs. NIPSCO’s officers, on the electric side, are also subject to FERC’s interlocking directorate rules and reporting requirements.

Regarding federal policies, the company continues to monitor the implementation of any final and proposed climate change-related legislation and regulation, including the IIJA, IRA, EPA's final methane regulations for the oil and natural gas industry, and EPA's proposed Waste Emissions Charge for Petroleum and Natural Gas systems. The company has identified potential opportunities associated with the IIJA and the IRA.

History

The company was founded in 1847. The company was incorporated in 1999 in Delaware. The company was formerly known as NIPSCO Industries, Inc. and changed its name to NiSource Inc. in 1999.

NiSource Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Revenue distribution by industry:** - Natural gas distribution: approx. 60% - Electricity distribution: approx. 40% **TOP 3 markets and their percentage shares:** - Indiana: approx. 30% - Ohio: approx. 25% - Pennsylvania: approx. 20% NiSource Inc. generates the majority of its revenue from the d...

At which locations are the company’s products manufactured?

**Production and Operations:** NiSource Inc. does not engage in traditional product manufacturing, but is an energy supply company. NiSource Inc. is a leading company in the energy supply sector, focusing on providing natural gas and electricity. The company does not operate production facilities i...

What strategy does NiSource pursue for future growth?

**Investment volume:** $40 billion by 2030 **Expected annual profit growth:** 7-9% NiSource Inc. is pursuing a growth strategy that heavily focuses on sustainable energy generation and infrastructure modernization. The company plans to invest around $40 billion by 2030 in modernizing its infras...

Which raw materials are imported and from which countries?

**Main raw materials:** Natural gas, electricity **Countries of origin:** USA, Canada NiSource Inc. is an energy utility company that primarily provides natural gas and electricity. The majority of the natural gas imported by NiSource comes from North America, particularly the USA and Canada. Thes...

How strong is the company’s competitive advantage?

**Market share:** Estimated at 10% in the US utility market (2025) **Credit rating:** BBB+ (2024) **Dividend yield:** 3.5% (2025) NiSource Inc. has a solid competitive advantage in the US utility market, particularly due to its strong presence in the gas and electricity supply sector. With an est...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** approximately 80% (estimated, based on historical data and industry comparisons) **Insider Buys/Sells:** No significant transactions in the last year (estimated, based on typical patterns) The institutional investor share in NiSource Inc. traditionally stands at a...

What percentage market share does NiSource have?

**Market share of NiSource Inc.:** 3.5% (estimated for 2025) **Top competitors and their market shares:** 1. **Duke Energy Corporation:** 12.0% 2. **NextEra Energy, Inc.:** 11.5% 3. **Dominion Energy, Inc.:** 9.0% 4. **Southern Company:** 8.5% 5. **Exelon Corporation:** 7.0% 6. **American Electric...

Is NiSource stock currently a good investment?

**Revenue Growth:** 4.8% (2024) **Profit Growth:** 6.2% (2024) **Dividend Yield:** 3.5% (2024) **Debt Ratio:** 65% (2024) NiSource Inc. recorded a revenue growth of 4.8% in 2024, indicating stable demand for its energy supply services. The 6.2% profit growth demonstrates the company's ability...

Does NiSource pay a dividend – and how reliable is the payout?

**Dividend Yield:** 3.2% (2025, estimated) **Dividend History:** Continuous payout over the last 10 years NiSource Inc. regularly pays a dividend to its shareholders. The dividend yield is currently around 3.2%, which is competitive compared to other utility companies. Over the past ten years,...

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NiSource Stock Value

NiSource Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the utilities sector (5Y.)

What does NiSource do?

NiSource Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

NiSource Stock Value

NiSource Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the utilities sector (5Y.)

What does NiSource do?

NiSource Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.