NiSource Inc Stock Research

Market Summary

USD26.85-0.16

Market Closed

-0.59%

NI Alerts

1 major insider sales recently.

NI Stock Price

NI RSI Chart

NI Valuation

Market Cap

11.1B

Price/Earnings (Trailing)

15.61

Price/Sales (Trailing)

1.87

Price/Free Cashflow

-13.91

NI Price/Sales (Trailing)

NI Profitability

Return on Equity

10.61%

Return on Assets

3.01%

Free Cashflow Yield

-7.19%

NI Fundamentals

NI Revenue

Revenue (TTM)

5.9B

Revenue Y/Y

4.95%

Revenue Q/Q

15.33%

NI Earnings

Earnings (TTM)

710.3M

Earnings Y/Y

-21.98%

Earnings Q/Q

36.2%

Price Action

52 Week Range

23.5631.57

(Low)(High)

Last 7 days

-1.9%

Last 30 days

-4.2%

Last 90 days

-3.5%

Trailing 12 Months

-13.4%

NI Financial Health

Current Ratio

0.55

Debt/Equity

1.26

Debt/Cashflow

0.15

NI Investor Care

Dividend Yield

3.65%

Dividend/Share (TTM)

0.98

Shares Dilution (1Y)

1.79%

Diluted EPS (TTM)

1.47

Peers (Alternatives to NiSource)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ED	32.9B	16.0B	-6.51%	-5.62%	13.21	2.05	13.91%	73.64%
PEG	31.7B	11.2B	-4.67%	-11.68%	30.71	3.23	22.92%	278.74%
WEC	27.4B	9.6B	-9.28%	-15.65%	19.44	2.86	12.24%	8.56%
AEE	21.2B	8.1B	-9.24%	-13.44%	19.66	2.61	21.37%	8.44%
CMS	16.7B	8.5B	-7.49%	-17.50%	24.21	1.96	10.61%	-49.30%
NI	11.1B	5.9B	-4.24%	-13.38%	15.61	1.87	13.70%	-0.82%
MID-CAP
UGI	5.9B	9.8B	-14.66%	-32.51%	-9.79	0.6	8.37%	-140.17%
BKH	4.2B	2.6B	-5.24%	-19.72%	16.37	1.66	23.85%	-2.27%
NWE	3.4B	1.5B	-3.44%	-8.90%	18	2.18	12.58%	1.94%
AVA	3.1B	1.8B	-5.38%	-3.32%	22.62	1.78	16.29%	-8.24%
SJW	2.4B	633.7M	-1.31%	26.23%	32.2	3.83	8.66%	32.50%
SMALL-CAP
MSEX	1.4B	164.4M	5.34%	-5.47%	32.76	8.56	11.99%	-13.27%
UTL	855.9M	590.8M	-9.10%	-5.24%	19.45	1.45	12.08%	13.70%
GNE	278.1M	343.0M	0.32%	112.14%	2.8	0.76	3.38%	82.31%

Financials for NiSource

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.6%	5,943	5,851	5,555	5,425	5,227
Operating Expenses	3.5%	4,747	4,585	4,370	4,249	4,053
Interest Expenses	7.0%	387	362	347	340	340
Net Income	-11.7%	710	804	726	723	716
Net Income Margin	5.2%	0.14*	0.13*	0.13*	0.14*	-
Free Cahsflow	-5.3%	-793	-753	-534	-571	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	0.4%	26,854	26,737	25,576	24,814	24,366
Current Assets	-9.6%	2,337	2,584	2,229	1,912	1,872
Cash Equivalents	263.5%	148	41.00	36.00	78.00	115
Goodwill	0%	1,486	1,486	1,486	1,486	1,486
Current Liabilities	-16.2%	3,907	4,661	3,911	3,015	2,595
. Short Term Borrowings	-27.3%	1,282	1,762	1,274	555	520
Long Term Debt	7.8%	10,265	9,524	9,521	9,520	9,180
Shareholder's Equity	5.7%	8,004	7,575	7,194	7,540	7,531
Retained Earnings	8.1%	-1,114	-1,213	-1,458	-1,408	-1,372
Additional Paid-In Capital	0.0%	7,373	7,375	7,225	7,219	7,209
Shares Outstanding	0.2%	413	412	406	406	406
Minority Interest	0.9%	330	326	312	316	330

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	7.4%	1,513	1,409	1,315	1,422	1,349
Share Based Compensation	-	25.00	-	-	-	-
Cashflow From Investing	-13.9%	-2,927	-2,570	-2,493	-2,293	-2,173
Cashflow From Financing	25.5%	1,433	1,141	1,201	881	858
Dividend Payments	2.1%	389	382	372	363	354

Risks for NI

What is the probability of a big loss on NI?

32.7%

Probability that NiSource stock will be more than 20% underwater in next one year

18.1%

Probability that NiSource stock will be more than 30% underwater in next one year.

Probability that NiSource stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NI drawdown profile look like?

Y-axis is the maximum loss one would have experienced if NiSource was unfortunately bought at previous high price.

Drawdowns

Returns for NI

Cumulative Returns on NI

12.4%

10-Year Cumulative Returns

4.6%

7-Year Cumulative Returns

4.4%

5-Year Cumulative Returns

7.8%

3-Year Cumulative Returns

What are the long-term rolling returns for NI?

FIve years rolling returns for NiSource.

Annualized Returns

Which funds bought or sold NI recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-24	Old North State Trust, LLC	unchanged	-	-	7,000	-%
2023-05-23	3Chopt Investment Partners, LLC	new	-	221,974	221,974	0.12%
2023-05-23	Brookfield Corp /ON/	reduced	-1.07	1,443,090	166,691,000	0.64%
2023-05-23	Toroso Investments, LLC	added	112	463,000	860,000	0.01%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-3.19	-2,616,520	75,725,500	0.03%
2023-05-22	AMERIPRISE FINANCIAL INC	added	7.81	3,411,010	37,732,000	0.01%
2023-05-22	PUTNAM INVESTMENTS LLC	reduced	-91.7	-3,103,830	287,010	-%
2023-05-18	JPMORGAN CHASE & CO	added	1.48	914,524	27,252,500	-%
2023-05-18	SkyView Investment Advisors, LLC	new	-	-	-	-%
2023-05-18	CENTAURUS FINANCIAL, INC.	added	2.18	6,000	151,000	0.01%

Latest Funds Activity

Are funds buying NI calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NI

No. of Funds

NI Alerts

1 major insider sales recently.

NiSource News

Schedule 13G FIlings of NiSource

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	price t rowe associates inc /md/	1.5%	6,295,878	SC 13G/A
Feb 09, 2023	vanguard group inc	12.82%	52,054,948	SC 13G/A
Feb 07, 2023	state street corp	5.56%	22,596,044	SC 13G/A
Jan 27, 2023	blackrock inc.	10.6%	43,425,768	SC 13G/A
Jan 23, 2023	blackrock inc.	11.2%	45,669,748	SC 13G/A
Mar 11, 2022	blackrock inc.	13.6%	53,642,586	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	6.7%	27,162,692	SC 13G/A
Feb 11, 2022	state street corp	5.66%	22,223,865	SC 13G/A
Feb 09, 2022	vanguard group inc	12.09%	47,459,780	SC 13G/A
Feb 08, 2022	blackrock inc.	13.6%	53,642,586	SC 13G

NI Fair Value

NiSource fair value in different scenarios

The table shows the Fair Value estimates for NiSource for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	16.16 -39.81%	19.81 -26.22%	29.86 11.21%	39.35 46.55%	46.50 73.18%
Current Inflation	14.88 -44.58%	18.01 -32.92%	26.45 -1.49%	34.38 28.04%	40.31 50.13%
Very High Inflation	13.30 -50.47%	15.82 -41.08%	22.44 -16.42%	28.63 6.63%	33.22 23.72%

Historical NiSource Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of NiSource

View All Filings

Date Filed	Form Type	Document
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading

Latest Insider Trading transactions for NI

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-08	Cuccia Kimberly S	sold	-318,421	28.54	-11,157	svp, gc & corp sec
2023-03-27	Luhrs Michael	acquired	219,998	27.05	8,133	evp, strategy & risk & cco
2023-03-27	Luhrs Michael	acquired	500,019	27.05	18,485	evp, strategy & risk & cco
2023-03-27	Anderson Shawn	acquired	84,991	27.05	3,142	evp & cfo
2023-03-15	Berman Melanie B.	sold	-134,556	27.8931	-4,824	svp & chro
2023-02-28	Hooper Michael	sold (taxes)	-153,635	27.43	-5,601	svp and president, nipsco
2023-02-28	Anderson Shawn	acquired	357,824	27.43	13,045	svp strategy & chief risk off
2023-02-28	Brown Donald Eugene	sold (taxes)	-787,159	27.43	-28,697	evp & cfo
2023-02-28	Gode Gunnar	sold (taxes)	-100,531	27.43	-3,665	vp & chief accounting officer
2023-02-28	Cuccia Kimberly S	acquired	189,130	27.43	6,895	svp, gc & corp sec

About NiSource

Lloyd M. Yates

www.nisource.com

7270

NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. It operates approximately 54,600 miles of distribution main pipelines, as well as associated individual customer service lines; and 1,000 miles of transmission main pipelines. The company generates, transmits, and distributes electricity to approximately 483,000 customers in 20 counties in the northern part of Indiana, as well as engages in wholesale electric and transmission transactions. It owns and operates coal-fired electric generating stations with a capacity of 722 megawatts (MW) in Wheatfield and 455 MW in Michigan City; combined cycle gas turbine with a capacity of 563 MW in West Terre Haute; natural gas generating units with a capacity of 155 MW in Wheatfield; hydro generating plants with a capacity of 9 MW in Carroll County and 7 MW in White County; and wind generating units with a capacity of 102 MW and 302 MW in White County, Indiana. The company was formerly known as NIPSCO Industries, Inc. and changed its name to NiSource Inc. in April 1999. NiSource Inc. was founded in 1847 and is headquartered in Merrillville, Indiana.

NI Income Statement

2023-03-31

Statements Of Consolidated Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Revenues
Customer revenues	$ 1,896.1	$ 1,840.3
Other revenues	69.9	33.0
Total Operating Revenues	1,966.0	1,873.3
Operating Expenses
Cost of energy	765.1	706.7
Operation and maintenance	391.2	394.3
Depreciation and amortization	206.9	192.7
Gain on sale of assets, net	0.0	(105.0)
Other taxes	71.8	84.3
Operating Costs and Expenses	1,435.0	1,273.0
Operating Income	531.0	600.3
Other Income (Deductions)
Interest expense, net	(108.9)	(83.7)
Other, net	1.5	10.9
Total Other Deductions, Net	(107.4)	(72.8)
Income before Income Taxes	423.6	527.5
Income Taxes	85.8	96.2
Net Income	337.8	431.3
Net income attributable to noncontrolling interest	4.8	4.5
Net Income Attributable to NiSource	333.0	426.8
Preferred dividends	(13.8)	(13.8)
Net Income Available to Common Shareholders	$ 319.2	$ 413.0
Earnings Per Share
Basic Earnings Per Share	$ 0.77	$ 1.02
Diluted Earnings Per Share	$ 0.71	$ 0.94
Basic Average Common Shares Outstanding	412.8	406.0
Diluted Average Common Shares	447.1	441.4

NI Balance Sheet

2023-03-31

Statements of Consolidated Balance Sheets - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Property, Plant and Equipment

Plant

$ 28,065.6

$ 27,551.3

Accumulated depreciation and amortization

(7,838.0)

(7,708.7)

Net Property, Plant and Equipment

^[1]

20,227.6

19,842.6

Investments and Other Assets

Unconsolidated affiliates

2.2

1.6

Available-for-sale debt securities (amortized cost of $162.8 and $166.7, allowance for credit losses of $0.8 and $0.9, respectively)

150.4

151.6

Other investments

74.3

71.0

Total Investments and Other Assets

226.9

224.2

Current Assets

Cash and cash equivalents

106.4

40.8

Restricted Cash

41.9

34.6

Accounts receivable

954.2

1,065.8

Allowance for credit losses

(31.4)

(23.9)

Accounts receivable, net

922.8

1,041.9

Gas inventory

138.8

531.7

Materials and supplies, at average cost

172.6

151.4

Electric production fuel, at average cost

64.9

68.8

Exchange gas receivable

92.1

128.1

Regulatory assets

237.6

233.2

Prepayments and other

278.2

210.0

Total Current Assets

^[1]

2,336.5

2,584.3

Other Assets

Regulatory assets

2,319.2

2,347.6

Goodwill

1,485.9

Deferred charges and other

257.6

252.0

Total Other Assets

4,062.7

4,085.5

Total Assets

26,853.7

26,736.6

Stockholders' Equity

Common stock - $0.01 par value, 600,000,000 shares authorized; 412,982,639 and 412,142,602 shares outstanding, respectively

4.2

Preferred stock - $0.01 par value, 20,000,000 shares authorized; 1,302,500 and 1,302,500 shares outstanding, respectively

1,546.5

Treasury stock

(99.9)

Additional paid-in capital

7,372.9

7,375.3

Retained deficit

(1,114.8)

(1,213.6)

Accumulated other comprehensive loss

(34.7)

(37.1)

Total NiSource Stockholders’ Equity

7,674.2

7,575.4

Noncontrolling interest in consolidated subsidiaries

329.5

326.4

Total Equity

8,003.7

7,901.8

Long-term debt, excluding amounts due within one year

10,264.7

9,523.6

Total Capitalization

18,268.4

17,425.4

Current Liabilities

Current portion of long-term debt

30.3

30.0

Short-term borrowings

1,281.6

1,761.9

Accounts payable

642.2

899.5

Dividends payable - common stock

103.4

0.0

Dividends payable - preferred stock

19.4

0.0

Customer deposits and credits

225.5

324.7

Taxes accrued

268.7

246.2

Interest accrued

139.2

138.4

Exchange gas payable

19.6

147.6

Regulatory liabilities

359.1

236.8

Asset Retirement Obligation

48.1

35.5

Accrued compensation and employee benefits

124.5

167.5

Obligations to renewable generation asset developer

347.2

Other accruals

298.1

325.2

Total Current Liabilities

^[2]

3,906.9

4,660.5

Other Liabilities

Deferred income taxes

1,950.1

1,854.5

Accrued liability for postretirement and postemployment benefits

239.6

245.5

Regulatory liabilities

1,725.5

1,775.8

Asset retirement obligations

464.7

478.1

Other noncurrent liabilities

298.5

296.8

Total Other Liabilities

^[2]

4,678.4

4,650.7

Total Capitalization and Liabilities

26,853.7

26,736.6

Joint Ventures

Property, Plant and Equipment

Net Property, Plant and Equipment

972.7

Current Assets

Total Current Assets

33.8

25.7

Current Liabilities

Total Current Liabilities

135.4

128.2

Other Liabilities

Total Other Liabilities

$ 30.7

$ 30.6

[1]

Includes $972.7 million and $978.5 million at March 31, 2023 and December 31, 2022, respectively, of net property, plant and equipment assets and $33.8 million and $25.7 million at March 31, 2023 and December 31, 2022, respectively, of current assets of consolidated VIEs that may be used only to settle obligations of the consolidated VIEs. Refer to Note 12, "Variable Interest Entities," for additional information.

[2]

Includes $135.4 million and $128.2 million at March 31, 2023 and December 31, 2022, respectively, of current liabilities and $30.7 million and $30.6 million at March 31, 2023 and December 31, 2022, respectively, of other liabilities of consolidated VIEs that creditors do not have recourse to our general credit. Refer to Note 12, "Variable Interest Entities," for additional information.