NiSource Inc. (NI)
Utilities · NYQ
Price as at 30 Sept 2026, 21:47 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
NiSource Inc. trades at $39.00, close to the $34.83 our fair value estimate puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 56 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 23.4 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
NI dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | $0.900 | 3 |
| 2025 | $1.12 | 4 |
| 2024 | $1.06 | 4 |
| 2023 | $1.00 | 4 |
| 2022 | $0.940 | 4 |
| 2021 | $0.880 | 4 |
| 2020 | $0.840 | 4 |
| 2019 | $0.800 | 4 |
| 2018 | $0.780 | 4 |
| 2017 | $0.700 | 4 |
| 2016 | $0.640 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
NI earnings and analyst estimates
Recommendation mix, 16 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About NiSource Inc.
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service lines; and 310 miles of transmission main pipeline in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. It also generates, transmits, and distributes electricity to approximately 0.5 million customers in various counties in the northern part of Indiana, as well as engages in wholesale electric and transmission transactions. It owns and operates steam coal generating stations in Wheatfield and Michigan City; combined cycle gas turbine in West Terre Haute; natural gas generating units in Wheatfield; hydro generating plants in Carroll County and White County; wind generating units in White County; and solar generating units in Sullivan County, Gibson County, Jasper County, and White County. 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.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
NI passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
10 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Ken Griffin, CITADEL ADVISORS LLC$176.67M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$120.03M · 0.0% of book
- Ray Dalio, Bridgewater Associates, LP$67.05M · 0.3% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$35.53M · 0.1% of book
- Joel Greenblatt, Gotham Asset Management, LLC$9.57M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Politician trades in NI
We hold 7 disclosed trades in NI by members of Congress and executive-branch officials. The latest 5:
- Donald J Trump · Executive branchSell · $1,001 - $15,000 · traded 12 Jun 2026 · disclosed 22 Aug 2026
- Donald J Trump · Executive branchBuy · $1,001 - $15,000 · traded 11 May 2026 · disclosed 1 Jul 2026
- Dan Newhouse · HouseSell · $1,001 - $15,000 · traded 11 Apr 2025 · disclosed 16 May 2025
- Dan Newhouse · HouseBuy · $1,001 - $15,000 · traded 10 Apr 2024 · disclosed 25 Apr 2024
- Dean Phillips · HouseSell · $1,001 - $15,000 · traded 18 Dec 2020 · disclosed 9 Jan 2021
A disclosure reports a value band, not an amount, and is due up to 45 days after the trade; some arrive later. Every filer we track, each with their own page, is on the Congress trading tracker.
NI peers
The largest companies in the same industry (Utilities - Regulated Gas), then in the same sector.
- ATO Atmos Energy Corporation
- UGI UGI Corporation
- SWX Southwest Gas Holdings, Inc.
- OGS ONE Gas, Inc.
- BIPC Brookfield Infrastructure Corporation
- CPK Chesapeake Utilities Corporation
- SPH Suburban Propane Partners, L.P.
- OPAL OPAL Fuels Inc.
Every utilities company we cover is on the Utilities hub.
Common questions
Is NiSource Inc. (NI) undervalued?
Against our fair value estimate of $34.83, NI at $39.00 is 11% above fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own NI?
10 of the institutions we track reported a position in NI in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is NI's P/E ratio?
NI trades at 23.4 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does NiSource Inc. (NI) pay a dividend?
Yes. NiSource Inc. yields 2.55% at the current share price. It has paid $1.18 per share over the trailing twelve months. It has paid a dividend in each of the last 39 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
Where does SteadyShares get its NI data?
Fundamentals for NI come from company filings and exchange data, as listed on NYQ; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 30 Sept 2026, 21:47 UTC and is delayed. Our data quality score for this company is 100/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for NI, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.