NiSource Inc clears a fresh all-time high, shares extend their utilities rally

By Stefan Krueger, Long-Term & Business Model desk. Reviewed prior to publication on 2026-06-27, 12:00.

NiSource Inc (US65473P1057) has reached a new all-time high around 48.98 US dollars on the NYSE, according to an Investing.com report that highlights the recent record print and trading near 49 dollars. The regulated utility’s valuation now sits on InvestingPro’s overvalued watchlist as the shares trade above its fair value estimate.

What Investing.com reports

Investing.com notes that NiSource stock hit an all-time high of 48.98 dollars, with the company’s market capitalization at roughly 23.4 billion dollars based on recent trading levels. Over the past twelve months, the shares have delivered a 23.93 percent gain, marking a solid run for the Indiana-based utilities provider.

The same analysis points out that NiSource offers a dividend yield of about 2.51 percent and has raised its dividend for nine consecutive years, underlining a consistent capital-return track record in the U.S. utilities sector. That streak places NiSource alongside other income-focused utilities such as Duke Energy and NextEra Energy, where dividend reliability is often central to investor interest.

Analyst and rating signals

NiSource’s momentum comes alongside mixed credit signals. Investing.com cites Moody’s Investors Service, which downgraded NiSource’s debt ratings to Baa3 on senior unsecured debt and Baa2 on subsidiary debt, with a negative outlook, affecting roughly 8 billion dollars of securities. The downgrade reflects high leverage and constrained cash flow, factors that long-term shareholders need to monitor closely.

On the equity side, Mizuho has reiterated an Outperform rating on NiSource shares, citing energy agreements with Alphabet and Amazon as structural growth drivers. The bank’s stance suggests that, despite the credit caution, sell-side analysts still see value in the regulated earnings stream and the incremental demand created by large data center projects. Other houses such as Evercore have previously set price targets around 52 dollars, framing the recent run within a moderate upside corridor.

The long-term growth picture

Bitget’s stock profile describes NiSource as a fully regulated utility serving roughly 4 million customers across six U.S. states via its Columbia Gas and NIPSCO brands. This footprint in gas distribution and electric generation positions the group within the core utilities space, where earnings visibility and regulatory frameworks often underpin valuation.

NiSource’s recent fundamentals have been solid. Bitget summarizes that in 2025 the company generated net income of about 929.5 million dollars, with adjusted earnings per share (EPS) at 1.90 dollars, exceeding its guidance range. For 2026, NiSource has reaffirmed adjusted EPS guidance of 2.02 to 2.07 dollars, implying mid-single-digit growth on the prior year, a pace consistent with management’s 6 to 8 percent annual EPS growth ambition.

Debt funding and data center deals

Investing.com also highlights NiSource’s April 2026 senior notes offering totaling 1.25 billion dollars, split between 500 million of 4.750 percent notes due 2031 and 750 million of 5.300 percent notes due 2036. The deal was underwritten by banks including BNP Paribas Securities Corp. and BofA Securities, adding long-dated funding to NiSource’s capital structure.

The same coverage reports that the Indiana Utility Regulatory Commission has approved NiSource’s agreements with Amazon for data center development, including a special contract and a power purchase agreement. These arrangements, together with separate energy deals with Alphabet mentioned in Bitget’s analysis, are expected to support electricity demand and grid investments over the coming decade.

The product behind the stock

NiSource’s core business revolves around regulated natural gas distribution and electric utility services. Through its Columbia Gas and NIPSCO operations, the company delivers gas to residential, commercial and industrial customers and operates generation and transmission assets to provide electricity across parts of Indiana and other Midwestern states.

Where the stock trades today

NiSource Inc shares (US65473P1057) trade on the NYSE under the ticker NI and recently changed hands around 49.00 US dollars, close to the reported 48.98-dollar all-time high, based on the latest Investing.com figures.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell securities. All data are based on sources cited and believed to be reliable at the time of publication, but may change without notice.