| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 39 | 21.9x | 17.8x | Bottom tier | |
Growth | 54 | 14.4% | 7.1% | Around median | |
Quality | 47 | 6.9% | 4.5% | Around median | |
Safety | 46 | 5.2x | 2.6x | Around median | |
Capital Return | 44 | 2.85% | 2.12% | Around median | |
Momentum | 37 | 1.1% | 2.9% | Bottom tier | |
Sentiment | 49 | 9 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
NiSource Inc is a fully regulated utility company operating across six U.S. states, providing energy through its natural gas and electric businesses. Its model is based on investing capital in modernizing gas and electric networks and then recovering those investments through service rates and regulatory recovery mechanisms; new rates and recovery mechanisms at NIPSCO Electric, Columbia Gas of Ohio, and Columbia Gas of Pennsylvania supported results for the first half of fiscal year 2026.
The company is adding to its core business the GenCo platform dedicated to meeting data center demand, with contracts with Amazon and Alphabet. The five-year plan includes $21 billion in core business investments, an additional $2 billion in opportunities, and $7.6 billion in GenCo investments, making the growth mix diversified between modernizing gas and electric utilities and providing generation capacity for large loads.
According to EDGAR data, NiSource recorded revenue of $1.3 billion, net income of $45.5 million, and earnings per share of $0.09 in Q2 fiscal year 2026, equivalent to a calculated net income margin of approximately 3.5%. On an adjusted basis, management reported earnings per share of $0.16, compared with $0.22 in Q2 fiscal year 2025, while adjusted earnings per share year-to-date in fiscal year 2026 reached approximately $1.22, an increase of $0.03 from the corresponding period. For comparison, fiscal year 2025 revenue was approximately $6.5 billion, net income was $929.5 million, and earnings per share were $1.95.
The analyst consensus rates NI as “Buy,” with an average target of $50.71 and a narrow range between $48 and $52; the average target is approximately 3% above the 52-week high of $49.21, while the annual range extends to a low of $38.45. A price-to-earnings ratio is not available in the provided data, so the stock's valuation here is based on the company's ability to achieve adjusted earnings per share guidance for fiscal year 2026 of between $2.02 and $2.07, while balancing GenCo and data center growth against regulatory recovery risks and substantial capital financing.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Core growth is based on a $21 billion investment plan in gas and electric networks across six states, targeting asset base growth of between 8% and 10% through fiscal year 2030. The GenCo model adds planned investments of $7.6 billion to serve data centers. On August 5, 2026, management reaffirmed annual adjusted earnings per share growth of between 6% and 8% through fiscal year 2030, and compound annual growth of between 9% and 10% from fiscal year 2026 to fiscal year 2033.
Management announced signed agreements covering four gigawatts, alongside active strategic negotiations for three gigawatts and visibility into approximately two additional gigawatts. The Amazon and Alphabet contracts received IURC approval, while amendments to the Amazon agreement increased contracted load by 400 megawatts. The company estimated NIPSCO customer savings from the Amazon and Alphabet contracts at approximately $1.4 billion over the life of the two contracts, amounting to as much as $124 annually for the average residential customer.
Yes, on August 5, 2026, NiSource reaffirmed its adjusted earnings per share range of between $2.02 and $2.07 for fiscal year 2026. Adjusted earnings per share were $0.16 in Q2 fiscal year 2026 and reached $1.22 year-to-date. Management expects a greater contribution from the second half of fiscal year 2026 due to approved recovery mechanisms, regulatory activity in Virginia and Ohio, and Alphabet operations.
Automated analysis for informational purposes only — not investment advice.
Adjusted earnings per share declined to $0.16 in Q2 fiscal year 2026 from $0.22 in the corresponding period of fiscal year 2025. New rates and recovery mechanisms supported revenue, including benefits from NIPSCO Electric, Columbia Gas of Ohio, and Columbia Gas of Pennsylvania. However, increased storm activity and expenses to maintain workforce continuity during union negotiations raised operating and maintenance costs and offset part of those benefits.
The company may need additional time or proceedings to recover certain investments, as shown by the IURC order related to gas network modernization in Indiana issued on August 5, 2026. Management said recovery could be pursued through the FMCA mechanism or base rate cases and did not change the capital spending plan or earnings guidance. The company also filed rate cases in Virginia and Kentucky and expects decisions on them in the first half of 2027.
The five-year plan includes $21 billion for the core business, $2 billion in incremental opportunities, and $7.6 billion in GenCo investments. Management aims to maintain a ratio of cash flow from operations to debt of between 14% and 16% in each year of the plan, using a mix of operating cash flows, long-term debt, and minority equity contributions. The plan also includes annual equity issuance of approximately $400 million to $600 million, while the company issued $750 million in subordinated notes in August 2026 to support its capital investment plans.
