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.
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.
NiSource Inc (NYSE: NI) announced the retirement of Violet Sistovaris, Executive VP and Chief Experience Officer, after 28 years with the company. Violet joined NiSource in 1994 and held various leadership roles, notably leading customer contact centers and later guiding the Northern Indiana Public Service Company. She co-founded NiSource's Women in Leadership initiative, enhancing diversity efforts. Violet's retirement will take effect on July 1, while a search for her successor is underway. NiSource serves approximately 3.2 million natural gas and 500,000 electric customers across six states.
NiSource Inc. (NYSE: NI) reported its 2021 integrated annual report, showcasing progress in safety, sustainability, and financial performance. Key highlights include exceeding financial expectations, a commitment to sustainable practices evidenced by its inclusion in the Dow Jones Sustainability Index for the eighth year, and advancements in employee safety and community support.
The report emphasizes NiSource's focus on long-term growth and employee engagement, with a notable $7 million contributed to charitable causes. The company remains positioned for future success, driven by its dedicated workforce.
NiSource Inc. (NYSE: NI) will host a conference call on May 4, 2022, at 11 a.m. ET to discuss its Q1 2022 financial results and provide a general business update. The company's financial results will be released before U.S. markets open on the same day. Interested parties can listen live via the NiSource website and a replay will be available until May 11, 2022. NiSource serves approximately 3.2 million natural gas and 500,000 electric customers across six states.
NiSource Inc (NYSE: NI) has appointed Kim Cuccia as the new General Counsel and Corporate Secretary, effective immediately. This decision follows a nationwide search after the departure of Anne-Marie D'Angelo in late 2021. Cuccia has over 14 years of experience with NiSource, previously serving in various legal and leadership roles. Her expertise includes overseeing the legal functions for Columbia Gas companies and leading regulatory strategies. The company emphasizes its commitment to diversity, equity, and inclusion through Cuccia's recent membership in the Leadership Council on Legal Diversity.
Columbia Gas of Pennsylvania, a subsidiary of NiSource (NYSE: NI), has requested approval from the Pennsylvania Public Utility Commission for revised rates to enhance its natural gas distribution infrastructure. If approved, the rate changes will take effect in December 2022 and result in an average monthly bill increase of 10.09% for residential customers. Columbia has invested over $2.8 billion in Pennsylvania since 2007 and aims to improve energy efficiency for its customers while modernizing services.
Elliott Investment Management announced its support for recent leadership changes at NiSource (NYSE: NI), including the appointment of Bill Johnson to the Board. Johnson, with extensive experience at major utilities, is expected to contribute to transformational strategies. The new CEO's plan for a comprehensive business review aims to enhance shareholder value. Elliott, a significant investor managing approximately $51.5 billion, anticipates positive outcomes from these developments and looks forward to ongoing collaboration with NiSource.
NiSource Inc. (NYSE: NI) has announced the appointment of William D. Johnson to its Board of Directors, effective immediately, following the resignation of Wayne S. DeVeydt after six years of service. DeVeydt is taking on a role with Bain Capital. Johnson, with extensive experience in the regulated utility industry, previously served as CEO of Pacific Gas & Electric and the Tennessee Valley Authority. NiSource has recently focused on Board refreshment, appointing six new Directors in four years, which is expected to enhance strategic execution and shareholder value.
On March 15, 2022, NiSource Inc. (NYSE: NI) announced a quarterly dividend of 23.5 cents per share, payable on May 20, 2022, to stockholders of record by April 29, 2022. 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 were declared, payable on June 15, 2022, with a record date of May 24, 2022. This reflects NiSource's ongoing commitment to returning value to shareholders.
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