NiSource (NI)
Utilities · Regulated utilities and energy distribution
NiSource operates regulated natural gas distribution and electric utility networks across the Midwest and Mid-Atlantic, with growing exposure to renewable energy and large data center contracts.
What NiSource does
NiSource Inc. is a diversified utility company that operates natural gas distribution through its Columbia Gas network serving multiple states (Kentucky, Maryland, Ohio, Pennsylvania, Virginia) and electric generation, transmission, and distribution through NIPSCO (Northern Indiana Public Service Company). The company is modernizing its infrastructure through capital investment programs and expanding renewable energy capacity, including solar and wind generation assets, while securing long-term contracts to serve major data center customers including Amazon and Alphabet.
Themes: ["Regulated utilities","Renewable energy expansion","Data center infrastructure","Natural gas distribution","Electric utilities","Energy transition","Infrastructure modernization","Midwest/Mid-Atlantic utilities"]
Fundamentals
- Price$46.66 as of 2026-07-09 close
- Market cap$22.5B as of 2026-07-10
- 1-year return+18.6% as of 2026-07-09 close
- P/E23.34 as of 2026-07-10
- Net margin+14.4% as of 2026-07-10
- Gross margin+40.6% as of 2026-07-10
- ROE+10.4% as of 2026-07-10
- Debt / equity1.74 as of 2026-07-10
- Revenue growth (YoY)+15.7% as of 2026-07-10
- Revenue CAGR (3y)+4.4% SEC XBRL
- Beta0.56 as of 2026-07-10
Dividend: yield +2.6%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Regulatory and rate approval risk for capital investments and cost recovery across multiple state jurisdictions (Indiana, Ohio, Kentucky, Maryland, Pennsylvania, Virginia)","Exposure to natural gas market price volatility through fuel adjustment clauses and commodity hedging","Long-term energy transition risk from natural gas distribution business as regulatory and customer demands shift toward decarbonization"]
Competitors & peers
- Duke Energy (DUK)
- American Electric Power (AEP)
- NextEra Energy (NEE)
- Dominion Energy (D)
- Equitable Gas Company (regional peer)
- Vectren Energy (regional peer)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.