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. reported a significant increase in net income for Q1 2021, reaching $281.7 million or $0.72 diluted EPS, up from $61.8 million or $0.16 EPS YoY. Non-GAAP net operating earnings were $304.8 million or $0.77 EPS. The company reaffirmed its 2021 earnings guidance of $1.32 to $1.36 per share and announced planned capital investments of $1.9 to $2.1 billion. NIPSCO initiated renewable energy projects and aims for a 90% reduction in greenhouse gas emissions by 2030. NiSource maintains its investment-grade credit ratings.
NiSource Inc. (NYSE: NI) appointed Christopher Turnure as the new Director of Investor Relations on April 28, 2021. Turnure, with over 15 years of Wall Street experience, previously led the North American utilities and power equity research team at JPMorgan Chase. His expertise is expected to enhance communications with investors and solidify the company's capital structure. NiSource serves approximately 3.2 million natural gas and 500,000 electric customers across six states, emphasizing its commitment to reliable energy and community support.
NiSource Inc. (NYSE: NI) will host a conference call on May 5, 2021, at 11 a.m. ET to discuss its first quarter 2021 financial results and provide business updates. The earnings report will be released before U.S. markets open that day. Interested participants can join the call via the NiSource website, with a replay available from 4 p.m. ET on the same day until December 5, 2021. Serving approximately 3.2 million natural gas and 500,000 electric customers across six states, NiSource is focused on delivering reliable energy.
NiSource Inc. (NYSE: NI) has joined the Low-Carbon Resources Initiative (LCRI), a five-year program aimed at developing low-carbon technologies such as clean hydrogen and renewable natural gas. This initiative supports NiSource's commitment to sustainable energy, with plans to save customers $4 billion through cleaner energy sources via its NIPSCO subsidiary, which aims to be coal-free by 2028. The company targets a 90% reduction in greenhouse gas emissions by 2030 and has been included in the Dow Jones Sustainability North America Index for seven consecutive years.
NiSource Inc. (NYSE: NI) has priced its offering of 7,500,000 Series A Equity Units, valued at $100 each, with a closing expected on April 19, 2021. An additional 1,125,000 units may be purchased by underwriters. These Corporate Units will offer a 7.75% annual distribution and may result in future common stock purchases. Net proceeds are anticipated to be around $730.4 million, aimed at renewable generation investments and general corporate purposes. NiSource plans to list the Corporate Units under the symbol 'NIMC' on the NYSE.
Northern Indiana Public Service Company (NIPSCO) has signed a build transfer agreement with Capital Dynamics to develop a 200 MW solar energy project in Indiana, known as the Elliot Solar project. Construction is slated to start in summer 2022, with operations expected to begin in summer 2023. This initiative aligns with NIPSCO's commitment to evolve its energy portfolio towards cleaner, more affordable energy, aiming to be coal-free by 2028. The investment is expected to save customers $4 billion long-term as part of NIPSCO's 'Your Energy, Your Future' strategy.
NiSource Inc. announced an offering of 7,500,000 Equity Units, each with a stated amount of $100. This will involve a contract to purchase common stock in the future and ownership interest in Series C Mandatory Convertible Preferred Stock. The offering aims to meet equity needs until 2024 and reduce reliance on block equity issuance. Proceeds will be used for renewable generation investments and corporate purposes, supporting a $2.0 billion capital expenditure plan. The Corporate Units will be listed as 'NIMC' on the NYSE.
Columbia Gas of Pennsylvania, a subsidiary of NiSource (NYSE: NI), has requested the Pennsylvania Public Utility Commission to approve revised rates to upgrade its natural gas distribution pipelines. If approved, the new rates will take effect in December 2021, leading to bill increases of approximately 14.49% for residential customers. Total annual revenue is projected to increase by $98.3 million. The utility has invested over $2.5 billion since 2007 to modernize infrastructure, emphasizing safety and regulatory compliance.
EDP Renewables, through its subsidiary, has partnered with Northern Indiana Public Service Company (NIPSCO) to execute long-term agreements for two renewable energy projects in Indiana. The Indiana Crossroads II Wind Farm, with a capacity of 204 MW, and the 200 MW Indiana Crossroads Solar Park aim to boost the state's clean energy transition. The projects, expected operational by 2023 and 2022 respectively, will contribute to over 1.6 GW of capacity from EDP Renewables in Indiana, enough to power more than 410,000 homes. NIPSCO plans to be coal-free by 2028, enhancing its energy mix and saving customers $4 billion long-term.
EDP Renewables and NIPSCO have signed a Power Purchase Agreement (PPA) for the 204 MW Indiana Crossroads II Wind Farm and a Build & Transfer Agreement (BTA) for a 200 MW Solar Park in Indiana. The wind farm is expected to be operational by 2023, while the solar park is anticipated to be ready in 2022. These projects add to the existing renewable energy capacity in White County, where EDP Renewables is already the largest operator with over 1,001 MW. The agreements support Indiana's clean energy transition and economic growth, with NIPSCO aiming to be coal-free by 2028.
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