NiSource Inc. - NI STOCK NEWS

NiSource (NYSE: NI) has joined the North American Energy Security Assurance Database (NAESAD) alongside American Electric Power and Avangrid. This collaboration aims to enhance the cybersecurity of critical infrastructure by creating a comprehensive Software Bill of Materials (SBOM) repository. Recent vulnerabilities like SolarWinds and Log4J have underscored the necessity for thorough software component tracking. SBOMs provide vital data for utilities to ensure safe software practices. This initiative aligns with the recent 2023 National Cybersecurity Strategy by the White House, which encourages SBOM development to mitigate software risks. NiSource serves approximately 3.2 million natural gas and over 500,000 electric customers across several states, emphasizing its commitment to secure energy sources.

The 2022 Annual Safety Report from NiSource (NYSE: NI) emphasizes the company's dedication to safety across its six-state service area.

Key highlights include:

• Recognition for successfully implementing a Safety Management System, making it the second energy company in the sector to achieve this.
• Enhancements in customer safety through a new Damage Prevention Risk Model software.
• Replacement of over 265 miles of priority pipeline, including the final sections of cast iron pipe.
• Ongoing modernization of electric infrastructure and leak detection capabilities through Picarro-equipped vehicles.
• Strengthening of emergency management protocols through regular training.

NiSource aims to deliver safe, reliable energy while promoting sustainability and accountability.

NiSource Inc. (NYSE: NI) has successfully closed a bond issuance of $750 million in senior unsecured notes, maturing on March 30, 2028, with a coupon rate of 5.25%. The notes were priced at 99.829% of the principal amount, and interest will be paid semi-annually starting on September 30, 2023. The company plans to use the proceeds for general corporate purposes, including financing capital expenditures, enhancing working capital, and repaying existing debt. This issuance is a strategic move to optimize financial stability and support ongoing investments.

NiSource (NYSE: NI) announced the appointment of Michael Luhrs as executive vice president of strategy and risk, effective March 27, 2023. Luhrs, with nearly 25 years in the energy sector, will oversee key business functions including customer experience and sustainability. NiSource also restructured its executive team, with Shawn Anderson becoming chief financial officer and Donald Brown stepping into the role of chief innovation officer. Melody Birmingham takes on the position of group president, overseeing gas and electric segments. These changes aim to enhance leadership development and align strategies within the company.

The board of directors of NiSource (NYSE: NI) has declared a quarterly common stock dividend of 25 cents per share, payable on May 19, 2023, to stockholders on record as of April 28, 2023. Additionally, a dividend of $28.25 per share on the 5.65% Series A Preferred Stock and $406.25 per share on the 6.50% Series B Preferred Stock will be paid on June 15, 2023, to stockholders of record by May 24, 2023. NiSource serves approximately 3.3 million natural gas customers and 500,000 electric customers across six states, emphasizing reliability and affordability.

NiSource (NYSE: NI) has announced the appointment of Jennifer Montague as president and chief operating officer of Columbia Gas of Virginia, effective May 1, 2023. This follows the retirement of Brent Archer, who served for 37 years in various roles, including the last eight as COO of Columbia Gas. Montague has been with NiSource since 2018, initially as VP of communications for NIPSCO, and holds degrees from Stanford University and the University of Chicago. NiSource, based in Merrillville, Indiana, serves about 3.2 million natural gas customers and 500,000 electric customers across six states.

NiSource (NYSE: NI) reported a strong performance for 2022, with a net income of $749 million, up from $530 million in 2021, translating into diluted earnings per share of $1.70 compared to $1.27 the prior year. Non-GAAP net operating earnings also increased to $648.2 million or $1.47 per share, a rise from $571.2 million or $1.37 per share. The company raised its 2023 guidance for non-GAAP NOEPS to between $1.54 and $1.60, reaffirming a growth target of 6-8% through 2027. Additionally, NiSource launched a sale process for a minority interest in NIPSCO aiming to strengthen its balance sheet.

NiSource Inc. (NYSE: NI) will host a conference call on February 22, 2023, at 11 a.m. ET to discuss its fourth quarter 2022 financial results and provide a business update. Financial results will be released prior to U.S. market open on the same day. Interested parties can access the live call via NiSource's website, and a replay will be available starting at 2 p.m. ET on February 22 until March 1, 2023. NiSource is a major utility company serving approximately 3.2 million natural gas and 500,000 electric customers across six states.

On January 26, 2023, the board of directors of NiSource (NYSE: NI) announced a quarterly common stock dividend of 25 cents per share, payable on February 17, 2023. This marks a significant increase, totaling an annualized dividend of $1 per share, which is over 6% higher than the 2022 dividend of 94 cents. President and CEO Lloyd Yates stated that this increase aligns with the company's premium utility growth plan, targeting a 60-70% payout ratio as part of a projected 9-11% total shareholder return. The board also declared a $406.25 dividend on the corporation's preferred stock, payable March 15, 2023.