NiSource (NYSE:NI) Posts Earnings Results, Beats Expectations By $0.04 EPS

NiSource (NYSE:NI) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04, FiscalAI reports. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share.

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

• NiSource raised confidence in its outlook, reporting third-quarter adjusted EPS of $0.27 versus $0.19 a year ago and narrowing 2026 guidance to the upper half of $2.02–$2.07. The company initiated 2027 guidance of $2.22–$2.30 per share.
• The Microsoft agreement expands GenCo with approximately 1,100 megawatts of combustion turbines and battery storage under a 20-year contract, bringing signed agreements to five across three major technology customers. NiSource expects these agreements to generate approximately $1.75 billion in savings for existing NIPSCO electric customers, or about $140 annually per average residential customer at full ramp, pending regulatory approval.
• NiSource extended its capital plan through 2033 to $40 billion, including $32 billion for the base utility business and approximately $8 billion for GenCo. Management now targets 10%–11% consolidated adjusted EPS CAGR through 2033, with GenCo expected to contribute $0.52–$0.68 of EPS by 2033.
• Management said the base business continues to support 6%–8% annual EPS growth, while more than 90% of planned investments are expected to receive initial recovery within 12 months. The plan assumes $400 million–$600 million of annual maintenance equity issuance in the near term, declining to minimal levels beginning in 2032.
• A severe August derecho in northern Indiana caused significant system damage and elevated third-quarter operating costs, prompting internal, third-party, and regulatory reviews. NiSource is also facing ongoing regulatory uncertainty around affordability, authorized returns, tracker mechanisms, coal-unit operations, and potential additional spending on storm hardening and resiliency.

NiSource Stock Up 1.5%

Shares of NI traded up $0.65 during mid-day trading on Wednesday, hitting $44.25. 2,797,291 shares of the company’s stock were exchanged, compared to its average volume of 4,757,076. NiSource has a fifty-two week low of $38.42 and a fifty-two week high of $49.21. The stock’s 50-day moving average is $41.06 and its 200-day moving average is $44.80.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 30th.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NI. Barclays dropped their price objective on shares of NiSource from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Weiss Ratings lowered shares of NiSource from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 22nd. Royal Bank Of Canada initiated coverage on NiSource in a report on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price on the stock. Citigroup restated a “buy” rating on shares of NiSource in a research report on Wednesday, October 21st. Finally, Mizuho cut their price target on NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, August 26th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.68.

Insider Buying and Selling at NiSource

In related news, EVP Melody Birmingham sold 37,509 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the completion of the transaction, the executive vice president directly owned 78,527 shares of the company’s stock, valued at $3,329,544.80. The trade was a 32.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

About NiSource

NiSource Inc is a regulated energy holding company based in Merrillville, Indiana. Through its operating companies, the company provides natural gas distribution and electric utility services to residential, commercial and industrial customers.

NiSource’s natural gas operations include Columbia Gas utilities serving customers in several states, including Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana and provides both electric power and natural gas services.

The company’s operations include energy delivery infrastructure, utility system maintenance, customer services and investments intended to support reliability and the transition of its generation portfolio.