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.
On August 9, 2022, NiSource Inc. (NYSE: NI) announced a quarterly dividend of 23.5 cents per share, payable on November 18, 2022, to stockholders of record by October 31, 2022. Additionally, dividends of $28.25 and $406.25 per share were declared for the Series A and Series B Preferred Stocks, respectively, both payable on December 15, 2022. These dividends underscore NiSource's commitment to returning value to shareholders while maintaining its role as a significant utility provider in the U.S.
NiSource Inc. (NYSE: NI) reported a net income of $53.2 million, or $0.12 per share, for Q2 2022, marking a rise from $46.5 million or $0.11 per share in Q2 2021. Year-to-date, net income reached $466.2 million, or $1.06 per share, up from $328.2 million or $0.80 per share. The company reaffirms its 2022 earnings guidance of $1.42 to $1.48 per share and aims for 7-9% long-term growth. Key projects in renewable energy and regulatory settlements in various states are progressing as planned. NiSource is on track to retire coal operations by 2026-2028.
NiSource Inc. (NYSE: NI) will announce its second quarter 2022 financial results before the U.S. markets open on August 3, 2022. A conference call to review these results and provide a business update is scheduled for 11 a.m. ET on the same day. Interested parties can listen live via the NiSource website. A replay will be available from 2 p.m. ET on August 3 until 11:59 p.m. ET on August 10, 2022. NiSource serves approximately 3.2 million natural gas and 500,000 electric customers in the U.S.
NiSource (NYSE: NI) has launched chatbots and live chat technologies on its Columbia Gas and NIPSCO platforms, enhancing customer service accessibility. This initiative aims to address customer demand for immediate answers to key queries like payment plan enrollment and outage reporting. Customers can engage via live representatives for complex issues. Additionally, NiSource has introduced mobile apps and an improved IVR system for easier account management. This digital transformation reflects NiSource's commitment to improving customer convenience and experience.
NiSource Inc. (NYSE: NI) successfully closed its first Green Bond issuance, raising $350 million to finance eligible renewable energy projects in Indiana. The 30-year senior, unsecured notes have a coupon rate of 5.00% and will commence interest payments on December 15, 2022. Proceeds will support the acquisition of the 302-megawatt Indiana Crossroads Wind project and 102-megawatt Rosewater Wind project. NiSource plans to retire all coal-fired generation by 2026-2028 and expects to invest $10 billion in capital projects by 2024.
NiSource (NYSE: NI) announced new additions to its executive leadership team, effective July 1, 2022. Melody Birmingham will become the EVP and Chief Innovation Officer, bringing 25 years of experience from Duke Energy. William (Bill) Jefferson joins as EVP of Operations and Chief Safety Officer, aiming to enhance operational excellence. Melanie Berman, previously SVP and Chief Human Resources Officer, has been elevated to the executive team. These leadership changes are expected to clarify accountability and drive excellence across the organization.
The board of directors of NiSource has declared a quarterly common stock dividend of 23.5 cents per share, payable on August 19, 2022, to stockholders recorded by July 29, 2022. Additionally, a dividend of $406.25 per share on the 6.50% Series B Preferred Stock will be paid on September 15, 2022, to stockholders recorded by August 24, 2022. NiSource, serving around 3.2 million natural gas customers and 500,000 electric customers across six states, is committed to delivering affordable energy and is a member of the Dow Jones Sustainability - North America Index.
Columbia Gas of Maryland, a subsidiary of NiSource (NYSE: NI), has requested the Maryland PSC to approve revised rates for upgrading its natural gas distribution pipelines. This proposal, aimed at enhancing safety and service, would lead to residential bills increasing by 11.70% and commercial bills by 9.26%. The total request represents an annual revenue increase of $7.1 million. Columbia Gas has invested over $231 million in Maryland since 2008, and is committed to providing flexible payment options for customers.
NiSource Inc. (NYSE: NI) reported a significant increase in net income for Q1 2022, reaching $413.0 million or $0.94 per diluted share, compared to $281.7 million or $0.72 last year. Non-GAAP net operating earnings also rose to $328.7 million, with a projected 2022 NOEPS guidance of $1.42 to $1.48. Despite delays in solar projects due to regulatory issues, NiSource maintains its long-term goal of 7-9% compound annual growth in NOEPS through 2024. The company is committed to safety and sustainability, planning $10 billion in capital investments by 2024.
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