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

NiSource (NYSE:NI) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04, FiscalAI reports. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. NiSource had a net margin of 13.20% and a return on equity of 7.95%. During the same quarter last year, the firm posted $0.19 EPS.

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 1.9%

NiSource stock traded up $0.82 during trading on Thursday, reaching $44.69. 1,917,660 shares of the company’s stock were exchanged, compared to its average volume of 4,772,916. NiSource has a 52-week low of $38.42 and a 52-week high of $49.21. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 3.22 and a beta of 0.55. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50. The company’s 50-day moving average is $41.09 and its two-hundred day moving average is $44.81.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 63.83%.

Key NiSource News

Here are the key news stories impacting NiSource this week:

• Positive Sentiment: Third-quarter earnings beat expectations. NiSource reported GAAP net income of $129.5 million, or $0.27 per diluted share, up from $94.7 million, or $0.20 per share, a year earlier. Adjusted EPS exceeded consensus estimates of approximately $0.22-$0.23. NiSource Announces Third Quarter Results
• Positive Sentiment: Management raised confidence in near-term results. NiSource narrowed its 2026 adjusted EPS outlook to the upper half of its $2.02-$2.07 range and introduced 2027 adjusted EPS guidance of $2.22-$2.30. It also projects a 10%-11% EPS compound annual growth rate through 2033, supporting the stock’s long-term valuation case. NiSource 2027 Earnings Outlook
• Positive Sentiment: Data-center investments are becoming a major growth catalyst. NiSource extended its capital plan through 2033 to $40 billion, including $8 billion for data-center projects from 2027-2033. Signed GenCo agreements are expected to generate about $1.75 billion in savings for existing customers. NIPSCO also announced $57.5 million of anticipated customer savings, subject to regulatory approval, including an estimated $5 monthly residential bill credit for 18 months. NIPSCO Data-Center Customer Savings
• Neutral Sentiment: Revenue results were mixed. Quarterly revenue was approximately $1.35 billion, broadly near estimates, while coverage noted a revenue miss under some consensus measures. The earnings beat was attributed largely to strength in the Columbia Gas business.
• Negative Sentiment: The expanded investment program increases execution and financing risks. The $40 billion capital plan requires substantial spending and remains partly dependent on data-center development and regulatory approvals. Separately, reported insider activity showed selling rather than buying during the past six months, a modest sentiment headwind.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HSBC assumed coverage on NiSource in a research note on Thursday, October 22nd. They issued a “buy” rating and a $49.50 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of NiSource from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. LADENBURG THALM/SH SH cut their target price on NiSource from $51.50 to $51.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. KeyCorp reduced their target price on NiSource from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Finally, BMO Capital Markets boosted their price target on NiSource from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and an average target price of $48.68.

Insider Buying and Selling

In other NiSource news, EVP Melody Birmingham sold 37,509 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by company insiders.

NiSource Company Profile

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.