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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) 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.
NiSource Inc. announced their first-quarter 2024 results, reporting a net income of $344.3 million and adjusted EPS of $0.85, compared to $319.2 million and $0.77 in the same period of 2023. NiSource reaffirmed their 2024 adjusted EPS guidance of $1.70-1.74 and a 6-8% annual EPS growth for 2023-2028. The base capital expenditure plan for 2024-2028 is increased to $16.4 billion. The company's President and CEO, Lloyd Yates, highlighted the positive impact of employee efforts and continued investment in service reliability for customers.
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