NiSource

NI · NYSE

$42.76+$0.81 (+1.93%)TodayMarket closed · Oct 20, 7:45 PM ET

Prev close $41.95

NI analyst rating

BuyConsensus of 13 analysts over the last 12 months. 77% rate it a buy.

Strong buy0
Buy10
Hold3
Underperform0
Sell0

12-month price target · 19 analysts

Average $49.97 (+16.9% upside)

Low: $43.43
Now: $42.76
High: $57.75

Upgrades and downgrades

The latest rating actions, newest first

NI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 20, 2026	Maintains	Overweight	$52.00 → $51.00	0%
Barclays	Oct 19, 2026	Maintains	Overweight	$45.00 → $44.00	51%
BMO Capital	Oct 19, 2026	Maintains	Outperform	$45.00 → $48.00	59%
Citigroup	Oct 14, 2026	Maintains	Neutral	$49.00 → $45.00	59%
Keybanc	Oct 13, 2026	Maintains	Overweight	$50.00 → $48.00	53%
Scotiabank	Sep 29, 2026	Initiates	Sector Perform	$43.00	88%
BMO Capital	Sep 28, 2026	Maintains	Outperform	$49.00 → $45.00	59%
Mizuho	Aug 26, 2026	Maintains	Outperform	$50.00 → $48.00	71%
Ladenburg Thalmann	Aug 17, 2026	Maintains	Buy	$51.50 → $51.00	57%
Barclays	Aug 7, 2026	Maintains	Overweight	$51.00 → $45.00	51%

The case for and against

Updated Sep 19, 2026

Bull case

NiSource is well-diversified with a balance between natural gas distribution and electric utilities. Additionally, the company has a solid track record of consistent dividends and dividend growth. Their recent investments in infrastructure and expansion into new markets show a commitment to long-term growth and stability. With a favorable regulatory environment and a strong customer base, NiSource has a positive outlook for future earnings and shareholder returns.

Bear case

NiSource is trading at a higher premium relative to its peers on RBC 2030 EPS estimates, but this discrepancy is justified by its potential for continued upside from its Generation Company (GenCo) and data center opportunities. However, the company faces potential challenges in navigating its electric rate case and managing affordability, especially in Indiana where it has the highest rates among investor-owned utilities. Additionally, the company's ongoing coal retirement program and methane emissions management pose execution and cost risks, and recent political actions in states such as Illinois and Ohio may add additional pressure on the company's operations.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.