NiSource Inc. (NI) Stock Price & Analysis
NiSource Inc. (NI) is trading at USD 43.17, down 1.19% today, as of October 23, 2026 at 17:28 UTC (US market open; quotes may be delayed), according to Nexqual market data.
NI last closed at USD 43.17; today's session has ranged USD 43.13–43.81 on volume of 1,490,534 shares. Market capitalization is —, with a 52-week range of USD 38.42–49.21 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 17:28 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NI.md
Key facts (NI)
- Last four reported quarters (through Jun 30, 2026): revenue $11.4B, net income $905M (8.0% margin), free cash flow -$1.09B (SEC filings).
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $3.8M; 4 not under a Rule 10b5-1 plan ($3.8M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.06 on a 1–5 scale) (17 analysts), mean target USD 48.09 (range 43–52).
- Total return with dividends: 1Y +1.0% vs S&P 500 +14.4%; 5Y +104.0% vs S&P 500 +77.0%.
- Next earnings: 2026-10-28, EPS estimate USD 0.23, revenue estimate $1.41B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.73B | $5.74B | $5.35B | $5.28B | $6.52B | $11.4B |
| Operating income | $1.01B | $1.27B | $1.30B | $1.46B | $1.84B | $1.86B |
| Net income | $585M | $804M | $714M | $760M | $930M | $905M |
| EPS (diluted) | $1.27 | $1.70 | $1.48 | $1.62 | $1.95 | — |
| Free cash flow | -$620M | -$794M | -$711M | -$833M | -$420M | -$1.09B |
| Operating margin | 21.3% | 22.1% | 24.2% | 27.6% | 28.1% | 16.4% |
| Net margin | 12.4% | 14.0% | 13.4% | 14.4% | 14.3% | 8.0% |
| Revenue growth | +5.8% | +21.3% | -6.8% | -1.2% | +23.5% | — |
| Cash + short-term investments | $84.2M | $40.8M | $2.25B | $157M | $110M | — |
| Total debt | $9.74B | $11.3B | $11.1B | $13.4B | $15.5B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (NI)
P/E at fiscal year-ends: Dec 2025 21.3x, Dec 2024 22.0x, Dec 2023 16.6x.
Insider sales (SEC Form 4, open-market, last ~7 months) (NI)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-14 | Birmingham Melody | EVP & Grp President, Utilities | 37,509 | $1.6M | 32.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-22 | Berman Melanie B. | EVP Administration & CHRO | 15,000 | $715K | 29.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-21 | Yates Lloyd M | Director and President & CEO | 19,905 | $950K | 3.7% | No | Too little history (no open-market trades in 2024) |
| 2026-05-14…2026-05-20 | Birmingham Melody | EVP & Grp President, Utilities | 12,500 | $590K | 9.7% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (NI)
Consensus Buy (mean 2.06 on a 1–5 scale), 17 analysts; mean target USD 48.09 (low 43, high 52).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | HSBC | Initiated | Buy | $49.5 |
| 2026-10-20 | JP Morgan | Target lowered | Overweight | $52 → $51 |
| 2026-10-19 | Barclays | Target lowered | Overweight | $45 → $44 |
| 2026-10-19 | BMO Capital | Target raised | Outperform | $45 → $48 |
| 2026-10-14 | Citigroup | Target lowered | Neutral | $49 → $45 |
| 2026-10-13 | Keybanc | Target lowered | Overweight | $50 → $48 |
| 2026-09-29 | Scotiabank | Initiated | Sector Perform | $43 |
| 2026-09-28 | BMO Capital | Target lowered | Outperform | $49 → $45 |
| 2026-08-26 | Mizuho | Target lowered | Outperform | $50 → $48 |
| 2026-08-17 | Ladenburg Thalmann | Target lowered | Buy | $51.5 → $51 |
| 2026-08-07 | Barclays | Target lowered | Overweight | $51 → $45 |
| 2026-07-23 | Keybanc | Target lowered | Overweight | $52 → $50 |
Total return (dividends reinvested) (NI)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +1.0% | +104.0% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +1.0% | +15.3% |
| Volatility (annualized) | 18.1% | 20.0% |
| Max drawdown | -20.0% (Jun 2026→Sep 2026) | -22.4% (Mar 2022→Oct 2022) |
NI revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| NIPSCO Operations | $704.7M | 54.6% | +7.7% |
| Columbia Operations | $584.8M | 45.4% | -1.3% |
| Total revenue | $1.29B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
NI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Amazon (AMZN) | “In September 2025, NIPSCO entered into an agreement with ADS, a wholly-owned subsidiary of Amazon.com, Inc., under which NIPSCO will provide electricity to ADS' data centers.” |
Quoted from the company's 10-K filed Feb 11, 2026.
Companies that name NI in their SEC reports
| Relationship to NI | Company | Filing | Sentence |
|---|---|---|---|
| supplier | WEC ENERGY GROUP, INC. (WEC) | 10-K Feb 20, 2026 | “NiSource is a public utility holding company whose operating subsidiaries provide natural gas and electric service to customers across Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia.” |
NI company outlook (results filed Aug 5, 2026)
- “Schedule 1 of this press release contains a complete reconciliation of GAAP measures to non-GAAP measures. ** NiSource is reaffirming its 2026 non‑GAAP consolidated adjusted EPS guidance of $2.02-$2.07 and its compound annual growth rate (CAGR) with respect to non-GAAP consolidated adjusted EPS of 9%-10% from 2026-2033.”
- “As presented, guidance with respect to base plan adjusted EPS, including annual base plan adjusted EPS growth, excludes, in addition to the items historically excluded from adjusted EPS, the impact of data center operations and development activities relating to provision of electric service to current and future data center or other large load customers.”
Quoted word-for-word from the SEC 8-K results press release.
NI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.23 | $0.22 | +5.5% | $1.41B | 11 |
| Next quarter (ends Dec 2026) | $0.61 | $0.61 | +0.7% | $2.00B | 7 |
| Current fiscal year (ends Dec 2026) | $2.05 | $2.06 | -0.1% | $7.19B | 14 |
| Next fiscal year (ends Dec 2027) | $2.25 | $2.25 | -0.4% | $7.64B | 17 |
Key Statistics (as of October 23, 2026 at 17:28 UTC)
| Price | USD 43.17 |
|---|---|
| Change | ▼ 1.19% (down) |
| Previous Close | USD 43.17 |
| Open | USD 43.17 |
| Day Range | USD 43.13 – 43.81 |
| 52-Week Range | USD 38.42 – 49.21 |
| Volume | 1,490,534 shares |
| Market Cap | — |
| Exchange | NYQ |
Technical Analysis (NI)
Nexqual's technical model rates NI "BUY" based on 5 bullish and 1 bearish signals across 128 daily candles, as of October 23, 2026 at 17:28 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 63.25 (neutral) |
| vs SMA50 | Above (USD 41.01) |
| MACD | 0.65 (positive) |
Analyst Ratings (NI)
Wall Street analysts rate NI "Buy" based on 17 analysts, with a mean price target of USD 48.09 (range USD 43–52), per Nexqual as of October 23, 2026 at 17:28 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 17 |
| Mean Target | USD 48.09 |
| High Target | USD 52 |
| Low Target | USD 43 |
| Buy / Hold / Sell | 13 / 4 / 0 |
Earnings (NI)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 0.23 |
| Revenue Estimate | $1.41B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.16 vs est 0.16 ▲ beat |
| 2026-03-31 | USD 1.06 vs est 1.05 ▲ beat |
| 2025-12-31 | USD 0.51 vs est 0.5 ▲ beat |
| 2025-09-30 | USD 0.19 vs est 0.2 ▼ miss |
Source: Nexqual, October 23, 2026 at 17:28 UTC.
Financials & Fundamentals (NI)
| Total Revenue | $6.88B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +4.60% |
| Gross Margin | +50.97% |
| Operating Margin | +17.16% |
| Profit Margin | +13.15% |
| ROE | +8.55% |
| Debt / Equity | 1.47 |
| Current Ratio | 0.5 |
| Total Cash | $70.00M |
| Total Debt | $17.44B |
Source: Nexqual, October 23, 2026 at 17:28 UTC.
Ownership (NI)
| Insider Ownership | +0.35% |
|---|---|
| Institutional Ownership | +97.98% |
| Shares Outstanding | 479.56M |
| Float | 477.73M |
| Short % of Float | +4.48% |
Source: Nexqual, October 23, 2026 at 17:28 UTC.
From NiSource Inc.'s Latest SEC 10-K Filing (filed 2026-02-11)
Key Strengths & Strategy (as disclosed to the SEC)
- There were no significant disruptions to our system or facilities during 2025.
- Consistent with our commitments and our approach to engagement, the NiPAC leadership committee members evaluate candidates for support on issues important to our business.
- As directed by law in the Protecting Our Infrastructure of Pipelines and Enhancing Safety Act of 2020, PHMSA has proposed and revised various pipeline safety regulations focused on public safety, environmental hazard mitigation, leak detection, methane emissions reduction, and enhanced safeguards for low-pressure distribution systems.
Legal & Regulatory Risks (Item 1A, quoted)
- The outcome of legal and regulatory proceedings, investigations, inquiries, claims and litigation related to our business operations may have a material adverse effect on our results of operations, financial position or liquidity.
- Changes in tax laws or the interpretation thereof and challenges to tax positions could adversely affect our financial results.
- Our construction of the Contract Assets and any generation or transmission assets we develop to support future data center contracts involves significant risks. Construction delays, cost overruns or performance issues with the Contract Assets could reduce our returns under the ADS Contract or other future data center contracts and could require us to obtain additional financing.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| ATO | Atmos Energy Corporation | USD 172.63 | ▼ 0.74% |
| UGI | UGI Corporation | USD 38.74 | ▲ 0.34% |
| SWX | Southwest Gas Holdings, Inc. | USD 91.28 | ▲ 0.22% |
| BKH | Black Hills Corporation | USD 79.27 | ▼ 0.05% |
| NJR | NewJersey Resources Corporation | USD 53.02 | ▼ 1.14% |
| SR | Spire Inc. | USD 84.57 | ▼ 1.16% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 17:28 UTC. This page is informational and not investment advice.
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