NiSource Inc (NI) is a Utilities stock trading at $40.59 (as of 2026-09-15), with a market capitalization of $19.47B and a trailing P/E of 21.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
NiSource Inc. is a U.S. energy holding company that provides regulated natural gas service and electricity generation, transmission, and distribution. It operates through gas distribution and electric operations segments, serving residential, commercial, and industrial customers across multiple states and performing wholesale electric and transmission transactions.
NiSource operates regulated natural gas and electric utilities across six states (Indiana, Ohio, Pennsylvania, Virginia, Kentucky, Maryland), earning approved returns on regulated capital from roughly 3.2 million customers. Earnings grow as the regulator approves new rate base, and a large data-center load pipeline is the current demand catalyst.
Regulated rate base is the profit engine: every dollar of approved infrastructure investment earns a fixed return, so the Alphabet project and 3 GW of negotiated large loads directly expand the recurring earnings base.
Business quality (Mixed): Stable regulated utility with a growing data-center load story, though near-term earnings are pressured by storm costs, union negotiations, and pending regulatory recoveries. Grade: Mixed.
Valuation: At 15× earnings, NI trades 26% below the Utilities average (20×).
| Price | $40.59 |
| Market Cap | $19.47B |
| P/E Ratio | 21.5 |
| EV / EBITDA | 11.4 |
| Price / Book | 1.64 |
| Price / Sales | 2.89 |
| Dividend Yield | 2.9% |
| FCF Yield | -5.6% |
| DCF Value (model) | $7.04 |
| DCF Upside vs Price | -82.7% |
| Revenue (TTM) | $6.52B |
| Net Margin | 14.3% |
| Return on Equity | 7.6% |
| Debt / Equity | 1.37 |
| Current Ratio | 0.50 |
| Revenue Growth (YoY) | 3.4% |
| EPS Growth (YoY) | -54.5% |
| FCF Growth (YoY) | 156.1% |
| Altman Z-Score | 0.78 (distress) |
| Piotroski F-Score | 6/9 (moderate) |
| Stock P/E | 21.5 |
| Sector P/E (Utilities) | 20.6 |
| Industry P/E (Utilities) | 20.4 |
| vs Sector | 4.3% |
| vs Industry | 5.3% |
| Top Institutional Holder | BlackRock, Inc. ($2.61B) |
| Institutional Holders Tracked | 10 |
| Congressional Trades (recent) | 5 |
| Sector | Utilities |
| Industry | Utilities |
| CEO | Lloyd Yates |
| Employees | 7,687 |
| Country | US |
| IPO Date | 1962-12-16 |
Data as of 2026-09-15.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.