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NiSource Inc.
NYSE: NI Utilities Energy 🔎 Screen
S&P 500
$19.2B
Market Cap
21.4
P/E
2.58
PEG
5.9%
ROCE
9.1%
ROE
1.39
D/E
27.6%
OPM
-15.6%
% from 52W High
28
α RS
🔍 NI is showing a high-conviction setup because it matches 4 of 37 tracked screener presets, Sector RRG has Energy in the Leading quadrant with the trail still rolling over, and an ECS of 59.2 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RRG ECS
Sources
Conviction 4/37 · Energy in Leading quadrant · ECS 59.2
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🌏 Global Investor Returns
Currency-adjusted total returns for NI including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding NI
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 9.0K $420K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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In-line quarter Investor Presentation One-Pager? Q2 2026
Net Income (GAAP)
$45.5M
-55% YoY
Adjusted Net Income
$77.6M
-24% YoY
Adjusted EPS
$0.16
-27% YoY
What Went Right
  • IURC approved Amazon and Alphabet data center agreements, driving $1.4 billion in customer savings
  • Year-to-date adjusted EPS rose to $1.22 from $1.19 in 2025
  • Reaffirmed 2026 EPS guidance and long-term 9%-10% consolidated EPS CAGR
What to Watch
  • IURC TDSIC order requires better demonstration of gas investment benefits, with recovery still possible via FMCA or rate cases
  • Higher O&M from record tornado activity and union negotiations pressured Q2 results
  • Federal order to keep Schahfer coal plant operating requires FERC 205 recovery filing
Management Guidance
  • Full-year 2026 adjusted EPS: $2.02-$2.07
  • Base plan adjusted EPS growth: 6%-8% through 2030
  • Consolidated adjusted EPS CAGR: 9%-10% from 2026-2033
  • 2026-2030 capital plan: $28.6 billion, including $21.0B base and $7.6B GenCo
Investor Lens
The investment thesis is intact: management reaffirmed 2026 and long-term guidance, backed by regulatory approval of Amazon and Alphabet deals that deliver $1.4B in customer savings. The 3GW active data center pipeline and potential 2GW of additional demand support upside, while the base business remains stable. The Indiana TDSIC order signals closer regulatory scrutiny on gas recovery, but management has multiple mechanisms to still recover capital. Net, the data center catalyst outweighs near-term regulatory noise and weather-related O&M drags.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED In-line quarter with reaffirmed guidance; Q2 adjusted EPS fell to $0.16
Revenue
Revenue was not discussed on the call. Q2 adjusted EPS was $0.16, down from $0.22 a year ago; year-to-date adjusted EPS improved to $1.22 from $1.19.
Profitability
GAAP net income was $45.5M in Q2 versus $102.2M prior year, reflecting higher O&M from storms and union-related costs. Adjusted net income was $77.6M versus $101.9M, while year-to-date adjusted net income rose to $587.2M from $564.2M.
Margins
Operating margin was not disclosed. Management highlighted increased O&M from abnormal storm activity and workforce continuity costs, partially offset by new rates and recovery mechanisms.
Balance Sheet
Capital plan of $28.6B (2026-2030) remains unchanged, with $21B base and $7.6B data center GenCo. Financing plan includes annual equity of $400-600M and FFO-to-debt target of 14%-16%.
Key Risks
The IURC TDSIC order may limit gas tracker recovery, though FMCA and rate cases remain options. Indiana affordability discussions and political rhetoric could pressure regulatory outcomes. Federal Schahfer coal operating mandate adds compliance costs pending FERC recovery. Elevated storm activity and ongoing union negotiations weigh on O&M.
Outlook
Full-year 2026 adjusted EPS guidance is reaffirmed at $2.02-$2.07, with earnings growth weighted to 2H. The company expects benefits from Alphabet energization, new rates, and over $40M in cost optimization initiatives.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Q2 2026 adjusted EPS was $0.16, with year-to-date EPS up to $1.22, supported by new rates and data center agreements. Full-year guidance and long-term growth targets were reaffirmed, with robust capital investment and cost optimization initiatives underway.
Q1 2026 Q1 2026 2026-05-06
First quarter adjusted EPS rose 8% year-over-year to $1.06, with 2026 guidance reaffirmed and long-term EPS CAGR raised to 9%-10%. Expanded Amazon and Alphabet partnerships drive $1.4 billion in customer savings and support robust data center growth in Indiana.
Q4 2025 Q4 2025 2026-02-11
Reported strong Q4 and full-year results, with adjusted EPS and FFO to debt exceeding guidance. Secured a major Amazon agreement, advanced data center initiatives, and reaffirmed robust 2026 EPS growth guidance, while maintaining disciplined capital allocation and regulatory execution.
Q3 2025 Q3 2025 2025-10-29
Secured a transformative data center contract and regulatory approval for Genco, driving a $6-$7 billion investment and $1 billion in customer bill savings. Reaffirmed strong EPS growth guidance, expanded CapEx to $28 billion, and strengthened financials with Blackstone’s $1.5 billion equity commitment.
Q2 2025 Q2 2025 2025-08-06
Second quarter adjusted EPS reached $0.22, with year-to-date EPS at $1.19, prompting a narrowed 2025 guidance to the upper half of $1.85-$1.89. Regulatory wins, AI-driven operational improvements, and robust capital planning support continued growth and strong credit metrics.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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