NiSource Inc. (NYSE: NI) Monthly Stock Report - January 02, 2026

Company Overview

NiSource Inc., headquartered in Merrillville, Indiana, is a key player in the natural gas and electric utility sector. Serving approximately 2.4 million customers across Ohio, Pennsylvania, Virginia, Kentucky, and Maryland, the company operates a comprehensive infrastructure comprising about 37,200 miles of natural gas distribution pipelines. Additionally, NiSource provides electric services to nearly 0.5 million customers in northern Indiana, while engaging in wholesale electric transactions. Founded in 1847, NiSource (formerly known as NIPSCO Industries, Inc.) has evolved into a sustainable energy holding entity, boasting total revenues of approximately $6.33 billion.

As a recognized authority in the regulated natural gas utilities sector, NiSource's business model emphasizes reliability and adherence to regulatory standards. The company stands out for its commitment to modernizing its infrastructure, enhancing customer service, and investing in renewable energy solutions--factors contributing to its competitive positioning within the utilities industry.

52-Week Price Performance Analysis

52-Week Price Performance Chart

Over the past year, NiSource Inc. demonstrated a predominantly bullish trajectory in its stock performance, beginning the year near $35 and peaking around $44, reflecting an approximate 18% increase throughout the period. As of January 2, 2026, the stock price is at $41.76, situated notably lower than its 52-week high of $44.88 and above its low of $35.51. This positioning indicates a period of volatility within a clearly defined yearly range.

Key Technical Insights

• Trend Identification: The stock has predominantly established higher highs and higher lows, suggesting an upward trend supported by a green trendline. However, recent price action points to a bearish shift as the stock trades below its fifty-day moving average of $42.5422.

• Support and Resistance Levels: Strong support lies around the $36 mark, historically acting as a floor for price declines. Conversely, significant resistance is apparent near the $44 threshold, where the stock has faced challenges in maintaining upward momentum.

• Momentum Assessment: The stock's dip below both the moving average and the green trendline suggests a potential loss of momentum. A critical price point to watch is $42; a decisive movement above this level could indicate a resurgence in bullish sentiment, while a drop below the $36 support may signal a reversal.

Actionable Insights

Investors should consider these technical indicators as part of their risk management strategy. Monitoring price movements closely around the $42 and $36 thresholds should guide entry and exit decisions.

Financial Performance and Metrics

Examining NiSource's financial health reveals robust operational capabilities, with substantial revenue and profitability metrics. Key financial data as of the latest reports include:

• Annual Revenue: Approximately $6.33 billion
• EBITDA: $2.76 billion
• Shares Outstanding: 473,232,529
• Short Interest: Approximately 2.95% of the float, which stands at 475,682,819 shares.

While the company's reputation is underscored by financial metrics demonstrating positive growth trends, it is important to note that the current recommendation key is marked as "Not found." This ambiguity implies a lack of consensus among analysts regarding the stock's immediate performance.

Opportunities and Risks:

Opportunities: Continued investments in infrastructure modernization and renewable energy provide avenues for future growth and profitability. The company's recent $1.5 billion equity offering may bolster its capital position and support these initiatives.

Risks: Anticipated regulatory changes in Indiana pose potential delays in strategic undertakings, such as the proposed spin-off of its Genco subsidiary, which could affect market sentiment.

Recent News and Developments

As of January 2, 2026, several significant developments have shaped the narrative around NiSource:

• Equity Offering: On October 31, 2025, NiSource announced a $1.5 billion at-the-market equity offering to support general corporate purposes, including capital expenditures and debt repayment. This move is indicative of the company's strategy to strengthen its balance sheet and funding for future initiatives.

• Dividend Payout: On November 20, 2025, NiSource declared a quarterly dividend of $0.28 per share, showcasing the company's commitment to returning value to shareholders.

• Earnings Review: In its third-quarter report for 2025, NiSource reported a net income of $52 million, equating to $0.12 per diluted share, reflecting a slight increase from the previous year's corresponding quarter.

• Strategic Initiatives: The company's intention to sell a minority interest in its subsidiary, Northern Indiana Public Service Company (NIPSCO), is a noteworthy development that may influence both valuations and operational flexibility.

These announcements signal NiSource's aggressive funding and operational strategies, responding proactively to evolving market conditions while maintaining investor confidence.

Market Sentiment and Analyst Recommendations

The overall market sentiment for NiSource appears moderately optimistic, tinged with caution due to regulatory uncertainties. Analyst recommendations reflect this mixed outlook:

• Jefferies Upgrade: Analysts at Jefferies upgraded NiSource to a "Buy" rating, setting a price target of $50. This elevation underscores potential growth, particularly driven by data center opportunities in the energy sector.

• Citigroup Neutral Rating: Conversely, Citigroup maintains a neutral rating, citing concerns regarding regulatory changes that may hinder upcoming corporate transactions. Their price target is set at $44, reiterating a cautious stance amidst the evolving regulatory landscape.

Consensus Overview

Based on insights from 11 analysts, the target high price for the stock is established at $50.00, with a mean target of approximately $46.36 and a low target of $41.00. The median price among these projections is reported at $47.00, indicating a stable outlook despite the lack of consensus on immediate trading recommendations.

Conclusion

In summary, NiSource Inc. exemplifies a steady performer within the utilities sector, bolstered by substantial revenue and a commitment to modernization and sustainability. Technical analysis suggests a critical juncture for the stock, with key support and resistance levels framing the next phases of price action. Recent strategic developments and mixed analyst sentiment reflect both opportunities and challenges ahead.

Investors should maintain a vigilant approach, closely monitoring price movements around pivotal levels while remaining informed on regulatory developments and the company's strategic initiatives as they navigate the investment landscape in the coming months.