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) declared a quarterly dividend of 22 cents per share, payable on Feb. 19, 2021, to shareholders of record by Feb. 9, 2021. This marks an increase of nearly 5% from last year’s 84 cents per share, resulting in an annualized dividend of 88 cents. The company aims to balance dividend growth with funding investment opportunities while maintaining a 60 to 70 percent payout ratio. Additionally, a dividend of $406.25 per share was declared for Series B Preferred Stock, payable on March 15, 2021.
NiSource Inc. (NYSE: NI) will host a conference call on February 17, 2021, at 11:00 a.m. ET to discuss its year-end and fourth quarter 2020 financial results, as well as provide a business update. The financial results will be released prior to market opening on the same date. Interested parties can access the live call via the company’s website. A replay will be available later that day and accessible until February 24, 2021. NiSource serves approximately 3.2 million natural gas and 500,000 electric customers across six states.
Northern Indiana Public Service Company (NIPSCO) has signed a long-term Power Purchase Agreement (PPA) with Capital Dynamics' Clean Energy Infrastructure to purchase 280MW from the Gibson Solar project in Indiana. This move aligns with NIPSCO's plan to transition to cleaner energy, aiming to be coal-free by 2028, potentially saving customers $4 billion. The solar project is set to begin construction in 2022 and go commercial by 2023. The partnership underscores NIPSCO's commitment to deliver sustainable, reliable energy while supporting local development.
NiSource has joined the Asset to Vendor Network (A2V), enhancing its cybersecurity measures by sharing critical security data with prominent utility companies like American Electric Power. This initiative aims to strengthen third-party risk management, decreasing operational costs while bolstering the security of its supply chain for natural gas and electric utilities. With approximately 3.2 million natural gas customers and over 500,000 electric customers across six states, NiSource's involvement signals a commitment to improving cybersecurity within the utility sector, benefiting both its operations and the broader network.
NiSource reported a net loss of $186.7 million for Q3 2020, compared to a loss of $7.2 million in Q3 2019. For the nine months ending September 30, 2020, the net loss was $143.4 million, down from a profit of $481 million in the same period last year. Non-GAAP net operating earnings for Q3 2020 were $36.3 million. NiSource emphasizes ongoing investments in renewable energy, targeting a 90% reduction in greenhouse gas emissions by 2030. The company reaffirms its 2021 earnings guidance of $1.28 to $1.36 per share and its planned capital investment of $1.7 to $1.8 billion for 2020.
NiSource (NYSE: NI) announced the resignation of Carrie Hightman, chief legal officer and CEO of Columbia Gas of Massachusetts, following the sale of CMA to Eversource. Hightman will leave NiSource entirely in January 2021, with her legal oversight position being eliminated. Anne-Marie D’Angelo, currently senior vice president, will succeed Hightman, becoming an executive vice president on January 30, 2021. This transition reflects a shift in leadership poised to contribute to NiSource's strategic goals.
Northern Indiana Public Service Company (NIPSCO), a subsidiary of NiSource (NYSE: NI), will add 900 megawatts of solar energy through the Dunns Bridge I, Dunns Bridge II, and Cavalry Solar Energy Centers. Construction begins in 2022, with operations expected in 2022 and 2023. The projects, developed with NextEra Energy Resources, will generate enough energy to power 270,000 homes and are projected to save customers $4 billion over the long term. These initiatives align with NIPSCO's commitment to a coal-free energy portfolio by 2028, enhancing reliability and affordability.
NiSource Inc. (NYSE: NI) will host a conference call on November 2, 2020, at 11:00 a.m. ET to discuss its third quarter financial results and provide a business update. Earnings will be released before U.S. markets open on the same day. Interested parties can access the live webcast on NiSource's website. A replay will be available starting at 2:00 p.m. ET on November 2 until 11:59 p.m. ET on November 9. NiSource serves approximately 3.2 million natural gas and 500,000 electric customers across six states, focusing on reliable energy delivery.
NiSource Inc. (NYSE: NI) hosted a virtual investor day focusing on its long-term growth strategy, emphasizing safety, asset modernization, and renewable energy investments. The company reported a regulated rate base of nearly $14 billion and plans over $40 billion in infrastructure investments over the next 20 years, increasing previous estimates by $10 billion. The NiSource Next initiative aims for an 8% reduction in O&M costs in 2021. NiSource aims to retire 100% of coal generation by 2028, transitioning to renewables, saving customers over $4 billion in costs over 30 years.