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 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.
NiSource celebrates the one-year anniversary of its Columbia Gas and NIPSCO mobile apps, which facilitate bill payments and service management for customers. Since launch, the apps have seen over 6.1 million logins and 206,000 service requests completed. Customer interest in digital solutions led to the implementation of features like chatbot assistance, allowing 577,000 interactions in 2022. With 1.4 million customers opting for paperless billing, NiSource emphasizes its commitment to customer convenience and innovative solutions.
On November 7, 2022, NiSource (NYSE: NI) reported a net income of $52 million for Q3 2022, up from $49.4 million in Q3 2021, maintaining a diluted EPS of $0.12. For the nine-month period, net income reached $518.2 million, up from $377.6 million. The company narrowed its 2022 non-GAAP diluted net operating earnings per share (NOEPS) guidance to $1.44 to $1.46 and initiated 2023 guidance of $1.50 to $1.57. Regulatory updates include an electric rate case in Indiana seeking $291.8 million and a settlement in Ohio for a $68.2 million rate increase.
NiSource Inc. (NYSE: NI) announced strategic actions following its business review to enhance financial performance and sustainability. Aiming to sell a minority stake in NIPSCO, the move seeks to strengthen the balance sheet and facilitate growth investments. The company forecasts a 6-8% annual growth in net operating earnings from 2021 to 2027, backed by $15 billion in investments. NiSource also set a net zero goal for greenhouse gas emissions by 2040, solidifying its position as an industry leader in sustainability.
NiSource (NYSE: NI) will hold an Investor Day in New York City on November 7, 2022, from noon to 3 p.m. EST. This event will provide a comprehensive update from senior management, addressing the company's plans and insights. Additionally, NiSource will release its third quarter financial results before U.S. markets open on the same day. Following the Investor Day, further investor meetings will occur at the Edison Electric Institute Financial Conference from November 13 to 15.
NiSource Inc (NYSE: NI) announced the departure of Executive Vice President Pablo Vegas, who will assume the role of President and CEO of the Electric Reliability Council of Texas (ERCOT) on October 1, 2022. Serving at NiSource for six years, Vegas held multiple key positions, contributing significantly to company leadership. He will remain with the company until September 2, 2022, during which a national search for his replacement will be conducted. The company expressed gratitude for Vegas's service and leadership at NiSource.
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