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NiSource Inc. (NI) Stock Analysis

By Nova Skye | AltStation.io | Updated February 07, 2026

Price

$43.80

Change

-0.30%

Market Cap

$20.73B

Avg Volume

3.6M

Company Overview

NiSource Inc. provides regulated natural gas and electric utility services in the United States, focusing primarily on natural gas distribution. Headquartered in Merrillville, Indiana, the company serves around 2.4 million customers, including residential, commercial, and industrial users, through a vast pipeline network of approximately 37,200 miles. Additionally, NiSource generates and distributes electricity to about 500,000 customers in northern Indiana and operates a range of energy facilities, including coal, gas, wind, and solar power stations.

NiSource is a strong player in the regulated gas sector, primarily operating in competitive markets across several states, including Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. While it holds a solid market position, competition from other utility providers like Dominion Energy and Atmos Energy poses ongoing challenges. Regulatory changes and shifts toward renewable energy sources are also key factors that could impact their operational dynamics. NiSource’s edge lies in its extensive infrastructure and adaptability to incorporate more sustainable energy solutions.

Currently, NiSource is in a growth phase, focusing on modernization and expanding its clean energy portfolio. The company’s recent milestones include investments in renewable energy projects, which align with national trends towards sustainability. These strategic shifts not only enhance their service offerings but also aim to address regulatory pressures and customer demands for greener energy. As they continue to navigate these changes, NiSource is positioning itself to better compete and grow within the evolving utilities landscape.

Key Financials

Market Cap

$20.73B

Revenue

$6.33B

EBITDA

$2.76B

Gross Margin

50.8%

Profit Margin

14.2%

Revenue Growth

18.3%

Total Cash

$95.00M

Total Debt

$15.80B

Free Cash Flow

-$857.83M

52-Week Price Performance Analysis

Price Statistics

P/E Ratio

23.05

Forward P/E

21.41

Beta

0.65

52-Week High

$44.95

52-Week Low

$35.64

EPS

$1.90

50-Day Avg

$42.60

200-Day Avg

$41.55

Price/Book

2.29

Technical Analysis

Over the past 52 weeks, NiSource Inc. (NI) has exhibited a bullish trend, with significant upward momentum, culminating in a current price of $43.80, which is approximately 18.9% higher than its level a year ago. The key support level is established around $38, while the resistance level is observed near $44.10, indicating a critical threshold for upward movement. Price patterns reveal a series of higher lows and a consistent upward trajectory, supporting the bullish trend. In recent weeks, NI has demonstrated strong momentum, particularly following a bounce off the support level, suggesting buying interest around $40. Currently, the stock price sits comfortably within the upper range of its 52-week performance, indicating a strong bullish sentiment and potential for further gains as it approaches the resistance level.

Recent News and Developments

Here’s a summary of the latest news and developments for NiSource Inc

(NI) stock in the past week:

1. NiSource to Release Full-Year 2025 Financial Results on February 11, 2026

NiSource Inc. announced it would release its full-year 2025 financial results on February 11, 2026, before the U.S. financial markets open. The company will also host a conference call on the same day to discuss the results and provide a business update. Investors are anticipating these results to gain insight into the company’s recent performance.

2. Upcoming Ex-Dividend Date for NiSource Shareholders

NiSource (NI) is set to trade ex-dividend on February 3rd, 2026, with shareholders of record on that date receiving a $0.30 dividend per share on February 20th, 2026. The last dividend for NiSource Inc. as of February 1, 2026, was $0.30 USD, with a forward dividend yield of 2.71%.

Market Sentiment and Analyst Recommendations

Bull Case

NiSource sits in an enviable position for a utility: 18.3% revenue growth with analyst consensus expecting 6-8% annual EPS growth from highly visible, multi-year rate-based capital expenditures. The dividend yield of 2.71% provides steady income while the stock trades just 6% below the consensus fair value target of $46.75, leaving room for a clean run higher without needing heroic assumptions. The company’s engagement in decarbonization and economic development investments aligns with structural tailwinds in energy infrastructure spending. Technicals support the narrative–the stock has bounced consistently off the $38 support level and now sits near resistance at $44.10, with 12 analysts calling it a buy and the stock up 18.2% over the past year. At a 23.05 P/E, you’re paying a reasonable multiple for a defensive utility with genuine growth drivers.

Bear Case

The debt load is substantial at $15.80B against only $95M in cash, creating leverage risk if interest rates stay elevated or refinancing becomes expensive. Revenue growth of 18.3% masks a troubling reality: the next quarter is expected to see revenues decline 18.1% year-over-year, suggesting the growth is lumpy and not sustainable at current rates. EPS is expected to be flat quarter-over-quarter at $0.49, indicating earnings aren’t keeping pace with operational activity. The stock has already run 18.9% in 52 weeks and now trades near resistance, meaning upside from current levels requires breaking through $44.10–not guaranteed. For a utility, the valuation isn’t cheap, and you’re betting on flawless execution of that capital deployment plan with no margin for error.

What to Watch

The February 11, 2026 earnings call is critical–focus on whether management can explain the revenue decline and confirm the 6-8% EPS growth guidance holds. Watch the ex-dividend date on February 3rd and track whether the $0.30 quarterly dividend remains sustainable given the debt profile and cash flow generation. Monitor the stock’s behavior at the $44.10 resistance level; a clean break above signals momentum toward $46.75, while a rejection could push it back to $40. Track quarterly revenue trends closely over the next two quarters to see if the 18.3% growth was an anomaly or if it stabilizes at a higher run rate. Keep an eye on interest rate movements and utility sector valuations–rising rates could pressure both the debt servicing costs and the multiple investors assign to dividend payers. Finally, watch for any updates on the capital expenditure plans and rate base growth assumptions that underpin the earnings guidance.

Analyst Consensus

BUY

Based on 12 analyst opinions

Low Target

$41.00

Mean Target

$46.75

High Target

$50.00

Earnings and Financial Data

Sector

Utilities

Industry

Utilities – Regulated Gas

Employees

7,687

Earnings & Dividends

Next Earnings

Feb 11, 2026

EPS (Trailing)

$1.90

Dividend Yield

273.0%

Payout Ratio

58.2%

Frequently Asked Questions

Is NI a good stock to buy?

NiSource Inc. (NI) has an analyst recommendation of BUY with a price target of $46.75, indicating a potential upside from the current price of $43.80. With a solid market cap of $20.73 billion and consistent performance in the regulated gas sector, NI presents a favorable investment opportunity.

What is NI’s price target?

The current analyst price target for NiSource Inc. is $46.75. This represents a modest upside of approximately 4.3% from its current trading price of $43.80.

Does NI pay a dividend?

Yes, NiSource Inc. offers a substantial dividend yield of 273.0%. This high yield makes it an attractive option for income-focused investors.

What is NI’s P/E ratio?

NiSource Inc. has a trailing P/E ratio of 23.05 and a forward P/E of 21.41. These figures suggest that the stock is trading at a premium compared to the industry average, reflecting investor confidence in its future growth.

What has been NI’s stock price range over the past year?

Over the last 52 weeks, NiSource Inc. has traded between $35.64 and $44.95. Currently priced at $43.80, it is closer to its 52-week high, illustrating its strong performance in the utilities sector.

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Disclaimer: This report is for informational purposes only and does not constitute financial advice. The analysis and opinions expressed are those of AltStation.io and should not be relied upon as the sole basis for investment decisions. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results. Updated February 07, 2026.