Welcome to our dedicated page for NiSource news (Ticker: NI), a resource for investors and traders seeking the latest updates and insights on NiSource stock.
NiSource Inc. (NYSE: NI) is a prominent energy company that serves nearly 4 million natural gas and electric customers across seven states in the United States. With local utilities such as Columbia Gas and NIPSCO under its umbrella, NiSource ensures the delivery of safe, reliable, and affordable energy every day. Headquartered in Merrillville, Indiana, just 35 miles from Chicago, the company also maintains a significant corporate presence in Columbus, Ohio.
NiSource's operations span across Indiana, Kentucky, Maryland, Massachusetts, Pennsylvania, Virginia, and Ohio, marking it as one of the largest natural gas distribution companies in the nation. The company caters to approximately 3.2 million natural gas customers and about 500,000 electric utility customers in northern Indiana. It owns over 3,000 megawatts of generation capacity, which includes coal, natural gas, and renewable energy sources.
In its commitment to energy infrastructure, NiSource proactively invests around $1.4 billion annually to enhance and maintain its systems, ensuring that it meets and surpasses customer expectations for the next century. Employing over 7,000 individuals, NiSource actively engages in the communities it serves, contributing to making them excellent places to live.
The company's strategic focus extends beyond immediate operations to sustainability and long-term improvement projects. For instance, NiSource continues to expand its renewable energy initiatives, aiming to deliver cleaner, more sustainable energy solutions to its customers.
Recent achievements include significant advancements in energy infrastructure, customer service enhancements, and new partnerships that drive innovation in the energy sector. NiSource remains committed to balancing growth with environmental stewardship, financial responsibility, and community engagement.
NiSource (NYSE: NI) reported Q3 2024 GAAP net income of $85.7 million ($0.19 per share), up from $77.0 million ($0.17 per share) in Q3 2023. For the nine months ended September 30, 2024, GAAP net income reached $515.8 million ($1.14 per share), compared to $436.1 million ($0.98 per share) in 2023.
The company reaffirmed its 2024 non-GAAP adjusted EPS guidance of $1.70-1.74 and introduced 2025 guidance of $1.84-1.88. NiSource announced a new $19.3 billion base capital expenditure plan for 2025-2029, approximately $2.9 billion larger than the previous 5-year plan, expecting 6-8% annual EPS growth and 8-10% rate base growth through 2029.
NIPSCO, a subsidiary of NiSource Inc. (NYSE: NI), has completed its third solar project, Cavalry Solar, in White County, Indiana. The facility, developed by NextEra Energy Resources, generates 200 megawatts of solar energy with an additional 45 megawatts of battery storage. This project is part of NIPSCO's electric generation transition plan, which aims to provide more cost-effective, cleaner energy for homes and businesses.
The Cavalry Solar project is expected to power approximately 60,000 homes and generate about $25 million in additional tax revenue for White County over its lifetime. NIPSCO's renewable projects, including solar and wind, have generated nearly $80 million in excess power sales and renewable energy credit sales since 2021, benefiting customers directly.
NIPSCO plans to be coal-free by 2028 and reduce carbon emissions by more than 90% by 2030, compared to 2005 levels. The company is currently in the process of updating its Integrated Resource Plan, which will outline its long-term electricity supply strategy for the next 20 years.
NiSource Inc. (NYSE: NI) has announced a quarterly common stock dividend of $0.265 per share. The dividend is set to be paid on November 20, 2024, to stockholders of record as of the close of business on October 31, 2024. This declaration by the board of directors demonstrates NiSource's commitment to providing regular returns to its shareholders. The consistent dividend payout may be seen as a positive sign of the company's financial stability and confidence in its future performance.
NiSource Inc. (NYSE: NI) reported strong Q2 2024 results, with net income of $85.8 million ($0.19 EPS) on a GAAP basis, up from $39.9 million ($0.09 EPS) in Q2 2023. Non-GAAP adjusted net income was $94.7 million ($0.21 EPS), compared to $50.3 million ($0.11 EPS) in Q2 2023. The company reaffirmed its 2024 adjusted EPS guidance of $1.70-1.74 and maintained its 2023-2028 outlook of 6-8% annual adjusted EPS growth and 8-10% annual rate base growth. NiSource's 2024-2028 capital expenditure plan is set at $16.4 billion. The Cavalry Solar & Storage project was placed into service during Q2, demonstrating progress in the company's investment plan.
Northern Indiana Public Service Company (NIPSCO) has received approval from the Indiana Utility Regulatory Commission (IURC) to adjust its gas rates, effective August 2024. The new rates will be phased in over two steps, with the remaining changes applied in 2025. This decision supports safety, compliance, and infrastructure modernization, benefiting customers and communities.
Key points:
- Average residential customer using 72 therms per month will see an overall increase of approximately $5 per month (7.1%)
- NIPSCO's contribution to the Universal Service Program will increase, providing more assistance to low-income customers
- The rate adjustment will support an estimated $1.1 billion in investments through the end of 2024
- Various bill payment assistance programs and energy-efficiency initiatives are available for customers
NiSource Inc. (NYSE: NI) has announced its plans to release second quarter 2024 financial results and host a conference call on August 7, 2024. The company will release its financial results before U.S. financial markets open, followed by a conference call at 11 a.m. ET (10 a.m. CT) to review the results and provide a general business update. Interested parties can listen to the call live on the NiSource website. A replay of the call will be available from 2 p.m. ET on August 7 until 11:59 p.m. ET on August 14, 2024, accessible by calling +1 (800) 770-2030 with conference ID 5571489. The recording will also be archived on the company's website.
NiSource (NYSE: NI) subsidiaries Northern Indiana Public Service Company (NIPSCO), Columbia Gas of Ohio, Columbia Gas of Kentucky, and Columbia Gas of Virginia have been recognized as 2024 Most Trusted Utility Brands by Escalent’s Cogent Syndicated Utility Trusted Brand & Customer Engagement: Residential study.
The ranking listed only 33 utility brands nationwide, with NiSource subsidiaries securing three positions. Columbia Gas of Kentucky and Columbia Gas of Virginia scored 741 in the South Region, Columbia Gas of Ohio achieved the highest score in the Midwest Region for the third year in a row, and NIPSCO ranked in the top three among Midwest combination utilities.
The results are based on a survey of over 61,000 residential customers from 142 utilities, measuring factors such as customer advocacy, safety, reliability, and environmental focus. NiSource attributes this success to its employees’ commitment to customer trust and reliable energy delivery.
NiSource (NYSE: NI), a leading utility company, has unveiled its 2024 ESG Report titled 'Creating Shared Value'. The report underscores NiSource's commitment to sustainability and inclusivity through diverse initiatives, including a $4 billion investment towards achieving net-zero greenhouse gas emissions by 2040. It highlights progress in integrating low-carbon fuels and renewable energy, enhancing gas and electric operations, and ensuring accessible and affordable services.
Notable achievements include advancing economic inclusion by raising diverse supplier spend to 19%, aiming for 25% by 2025, and increasing the representation of diverse and female officers. The company has also revamped its Board, adding expertise in cybersecurity, finance, and industry. This comprehensive approach aims to balance community needs and environmental protection.
The full 2024 ESG report is accessible on NiSource's website.
NiSource (NYSE: NI) has achieved two international certifications for its gas operations: ISO 55001 and API RP 1173, awarded by LRQA. These certifications underscore NiSource's dedication to safety and operational excellence. Bill Jefferson, EVP and Chief Operating and Safety Officer, emphasized the importance of safety for customers, communities, and the workforce. The certification process included in-person reviews and rigorous, independent audits by LRQA in early 2024. These standards are integral to NiSource's Safety Management System, which ensures the management of physical assets like pipelines and gas storage facilities.
The board of directors of NiSource has declared a quarterly common stock dividend of $0.265 per share.
The dividend is payable on August 20, 2024, to shareholders recorded by the close of business on July 31, 2024.
This announcement reflects NiSource's commitment to delivering shareholder value through consistent dividend payments.
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