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 host a virtual Investor Day on September 29, 2020, starting at 11:00 am ET. President and CEO Joe Hamrock, along with senior management, will outline the company's long-term growth strategy during the two-hour presentation, which will include a Q&A session. A webcast and presentation will be available on NiSource's website, with an audio replay starting an hour after the event until October 6, 2020. NiSource provides utility services to approximately 3.5 million natural gas and 500,000 electric customers across seven states.
NiSource Inc. announced the pricing details of its cash tender offer, aiming to repurchase up to $150 million in bonds, including various notes maturing between 2040 and 2045. As of August 25, 2020, valid tenders included $97.4 million of 6.25% Notes due 2040 and $52.6 million of 5.95% Notes due 2041. The Total Consideration for purchased notes was calculated based on a fixed spread and included an Early Tender Payment of $30 per $1,000. The offer expires on September 9, 2020, subject to conditions outlined in the Offer to Purchase.
On August 26, 2020, NiSource announced the early results of its cash tender offer to repurchase up to $150,000,000 in outstanding notes. The offer covers various notes due between 2040 and 2045. Valid tenders totaled approximately $97.4 million for the 6.25% notes due in 2040, along with significant amounts for others, including $223.5 million for the 5.95% notes due in 2041. The Maximum Tender Offer has been fully subscribed, with the early settlement date set for August 27, 2020. The offer will expire on September 9, 2020, unless extended.
NiSource announced the completion of its Any and All Tender Offer for its outstanding Notes, which include 4.45% Notes due 2021, 2.650% Notes due 2022, and others. The tender offer expired on August 18, 2020, and NiSource reported valid tenders amounting to $2,922,000 for the 4.45% Notes, $415,270,000 for the 2.650% Notes, $146,559,000 for the 3.85% Notes, and $254,453,000 for the 3.650% Notes. The Total Consideration paid will include accrued interest, with a settlement date expected on August 19, 2020. Proceeds from a Financing Transaction will fund the offer.
On August 12, 2020, NiSource Inc. (NYSE: NI) announced the pricing of a public offering totaling $1.25 billion in 0.950% Senior Notes due 2025 and $750 million in 1.700% Senior Notes due 2031. The offering is set to close on August 18, 2020. Proceeds will be used primarily for purchasing certain outstanding debt securities and redeeming privately placed notes. Key financial institutions, including Citigroup and Morgan Stanley, are managing the offering. NiSource is one of the largest regulated utility companies, serving around 4 million customers across seven states.
NiSource has launched cash tender offers to buy back specific outstanding debt securities, totaling up to $150 million. The securities include 4.45% Notes due 2021, 2.650% Notes due 2022, and several others due between 2023 and 2045. The Any and All Tender Offer expires on August 18, 2020, while the Maximum Tender Offer lasts until September 9, 2020. Proceeds from a recent public offering will fund these purchases. Holders are advised to review the Offer to Purchase for complete terms and conditions.
On August 11, 2020, NiSource Inc. (NYSE: NI) announced a quarterly common stock dividend of 21 cents per share, payable on November 20, 2020, to shareholders of record by October 30, 2020. Additionally, dividends for preferred stocks were declared: $28.25 per share on Series A and $406.25 per share on Series B, both payable on December 15, 2020. These dividends reflect the company's commitment to returning value to shareholders while maintaining operational stability.
NiSource Inc. (NYSE: NI) reported a net loss of $18.5 million ($0.05 per share) for Q2 2020, contrasting sharply with a net income of $283.1 million ($0.76 per share) in Q2 2019. Year-to-date net income fell to $43.3 million ($0.11 per share) from $488.2 million ($1.31 per share) a year prior, largely due to a $364.6 million loss from the reclassification of Columbia Gas of Massachusetts' assets for sale. Despite COVID-19 impacts, NiSource aims for $1.7-$1.8 billion in 2020 capital investments and initiated 2021 earnings guidance of $1.28-$1.36 per share.
NIPSCO, a NiSource subsidiary, has unveiled plans for two new solar farms in Indiana, contributing to its 'Your Energy, Your Future' initiative aimed at cleaner, affordable energy. The projects, expected to add 300 MW of capacity by mid-2023, are part of NIPSCO's goal to transition to renewable sources by becoming coal-free by 2028. Two 20-year power purchase agreements with NextEra Energy Resources were finalized for these projects, which will also foster job creation and economic growth in Indiana.
NiSource Inc. (NYSE: NI) plans to release its second quarter 2020 earnings on August 5 before market opening. A conference call will take place at 9:00 a.m. ET the same day for discussing financial results and business updates. Interested parties can access the call via the NiSource website, with a replay available from 12:00 p.m. ET on August 5 until August 12. NiSource provides utility services to approximately 3.5 million natural gas customers and 500,000 electric customers across seven states.
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