NiSource (NYSE:NI) Posts Earnings Results, Beats Estimates By $0.02 EPS

NiSource (NYSE:NI) posted its earnings results on Wednesday. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02, FiscalAI reports. NiSource had a net margin of 13.99% and a return on equity of 8.07%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. NiSource updated its FY 2026 guidance to 2.020-2.070 EPS.

Here are the key takeaways from NiSource’s conference call:

• Amazon/GenCo deal: NiSource expects roughly $1 billion to flow back to NIPSCO customers (about $7–$9 per customer per month at full ramp), with the GenCo buildout representing $6–$7 billion of capital through 2032 and an IURC decision expected in H1 that would start GenCo contributing ~$0.01–$0.02 to 2026 EPS.
• Strong 2025 financials and reaffirmed guidance: Adjusted EPS of $1.90 and FFO to debt of 16.1% beat targets, the company reaffirmed 2026 consolidated adjusted EPS guidance of $2.02–$2.07 and approved a 7.1% dividend increase for 2026.
• Large, disciplined capital plan and data-center pipeline: NiSource plans roughly $21 billion of base utility investment over five years (plus upside and GenCo spend), is targeting <5% average annual bill increases, and is negotiating 1–3 GW of potential new data-center load.
• Regulatory and execution risks: The Indiana special contract awaits IURC approval, federal orders forced continued operation of the Schahfer coal plant (adding operational and compliance uncertainty), and GenCo earnings are sensitive to construction and financing timing.
• Operational resilience and safety wins: NiSource exceeded targets—installing over 545,000 smart meters, surveying 41,000+ pipeline miles, maintaining ISO/API certifications, and limiting outages during a major winter storm while using storage to serve ~75% of load at below-market prices.

NiSource Stock Performance

Shares of NI traded up $1.10 during mid-day trading on Friday, hitting $46.28. 1,151,239 shares of the company’s stock were exchanged, compared to its average volume of 4,249,928. NiSource has a 52 week low of $35.64 and a 52 week high of $46.35. The stock’s 50-day simple moving average is $42.75 and its 200-day simple moving average is $42.58. The company has a quick ratio of 0.39, a current ratio of 0.69 and a debt-to-equity ratio of 1.33. The firm has a market cap of $22.08 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 3.67 and a beta of 0.65.

NiSource Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Tuesday, February 3rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. This is a positive change from NiSource’s previous quarterly dividend of $0.28. NiSource’s payout ratio is currently 63.49%.

Insider Buying and Selling

In other news, EVP Kimberly S. Cuccia sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $43.13, for a total value of $345,040.00. Following the sale, the executive vice president owned 41,247 shares of the company’s stock, valued at $1,778,983.11. The trade was a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its holdings in shares of NiSource by 60.1% in the 1st quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider’s stock valued at $1,223,000 after purchasing an additional 11,452 shares in the last quarter. Woodline Partners LP increased its holdings in shares of NiSource by 41.6% in the first quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider’s stock valued at $1,592,000 after purchasing an additional 11,671 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of NiSource during the first quarter worth about $105,000. Bank of Nova Scotia boosted its position in NiSource by 0.5% in the second quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider’s stock valued at $1,986,000 after buying an additional 266 shares during the last quarter. Finally, AXA S.A. acquired a new stake in NiSource during the 2nd quarter valued at approximately $1,054,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NI has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a report on Monday, December 29th. Jefferies Financial Group raised shares of NiSource from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $50.00 in a report on Friday, October 31st. Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Wells Fargo & Company upped their price target on NiSource from $47.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, Evercore upped their price target on NiSource from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.20.

NiSource Company Profile

NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.

The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.