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 Inc. (NYSE: NI) will release its year-end and fourth quarter 2021 financial results on February 23, 2022, before market opening. The company will host a conference call at 11 a.m. ET the same day to discuss its financial performance and provide business updates. Interested parties can access the call via NiSource's website. A replay will be available until March 2, 2022. NiSource serves approximately 3.2 million natural gas customers and 500,000 electric customers across six states.
HITE Hedge Asset Management, owning over two million shares of NiSource (NYSE: NI), expresses strong support for CEO Lloyd Yates, calling him an open-minded leader. The firm highlights NiSource's world-class assets and emphasizes the need for better access to capital, especially in private markets, to enhance the company’s operations and environmental impact. They advocate for a privatization transaction to unlock the full potential of NiSource’s assets, which they believe could lead to accelerated pipeline modernization and renewable generation development. The firm sees a significant opportunity in the natural gas sector despite market inefficiencies.
Elliott Investment Management has expressed support for the recent management and board changes at NiSource (NYSE: NI). The firm views the appointment of Lloyd Yates as CEO as a positive step toward enhancing shareholder value and operational efficiency. Elliott highlighted NiSource's strong portfolio of regulated utility franchises and noted the strategic interest in gas and electric utilities, which reflects potential growth opportunities. The firm is eager to collaborate with the new leadership to drive initiatives beneficial to shareholders.
NiSource Inc. (NYSE: NI) announced the appointment of Lloyd Yates as President and CEO, effective February 14, 2022, following Joe Hamrock's retirement. Hamrock will assist in the transition before retiring after a decade of leadership, during which NiSource expanded its rate base to over $14 billion and achieved a total shareholder return exceeding 30% over the past year. Yates, a seasoned executive from Duke Energy, aims to conduct a business review to drive shareholder value and will outline strategic initiatives during an upcoming investor day.
NiSource Inc. (NYSE: NI) appointed Sondra Barbour and Cassandra Lee to its Board of Directors, effective immediately and on February 14, 2022, respectively. Their appointments come as part of a succession plan following Joe Hamrock's retirement as CEO. Barbour brings extensive experience in information technology from Lockheed Martin, while Lee offers financial expertise from her role at AT&T. Both will stand for election at the 2022 Annual Meeting of Stockholders, replacing Carolyn Woo and Hamrock. The board aims for diverse and experienced leadership to guide NiSource's strategic transformation.
The board of directors of NiSource declared a quarterly dividend of 23.5 cents per share, payable on February 18, 2022, to shareholders of record by February 8, 2022. This increase marks an annualized dividend of 94 cents, up nearly 7% from last year's 88 cents. NiSource aims for a payout ratio of 60%-70% while targeting a 7%-9% compound annual growth rate in diluted net operating earnings per share through 2024.
NiSource Inc. (NYSE: NI) published its 2021 Climate Report, highlighting significant goals including a 100% coal-free energy mix by 2026-2028 and a 90% reduction in greenhouse gas emissions by 2030. The company has already achieved a 63% reduction and aims for a 50% reduction in methane emissions by 2025. Additionally, NiSource plans to add 3,300 megawatts of renewable energy by 2023 and reduce water withdrawals by 99% by 2030. The report emphasizes a commitment to customer engagement and a just energy transition, ensuring that economically vulnerable customers benefit from sustainable practices.
NiSource Inc. (NYSE: NI) announced the departure of Anne-Marie D'Angelo, executive vice president and general counsel, who will join Molson Coors Beverage Company (NYSE: TAP) as Chief Legal and Government Affairs Officer. D'Angelo, who joined NiSource in 2019, significantly enhanced the legal team, ethics, and ESG programs during her tenure. Kim Cuccia, Vice President and Deputy General Counsel, has been appointed interim General Counsel while the company searches for a permanent replacement. D'Angelo's contributions were praised for their impact on high-profile rate cases.
NiSource Inc. (NYSE: NI) reported a significant turnaround in its financials for Q3 2021, with a net income of $49.4 million, or $0.12 EPS, compared to a net loss of $186.7 million in Q3 2020. For the nine months ended September 30, 2021, net income reached $377.6 million, or $0.91 EPS. The company forecasted 2022 non-GAAP diluted EPS guidance of $1.42 to $1.48, anticipating continued growth of 7% to 9% through 2024. NiSource is focusing on renewable energy investments, with approximately $10 billion in capital investments planned from 2021 to 2024 to improve safety, reliability, and sustainability.
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