Analyst Consensus ?
ConsensusBuy21 ratings
Bullish1571.4%
Neutral628.6%
Bearish00.0%
NiSource Inc · NI · FY2024 Q2 · Calendar Q3 2024
NiSource Reaffirms EPS Outlook as Data-Center Pipeline Builds
The current analysis supports a constructive but conditional view: reaffirmed EPS guidance, regulatory progress, and ongoing generation investment provide support, while data-center growth remains an opportunity rather than an included base-plan driver.
Reported Before market openNYSEUtilities
$20.46B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.21
Consensus $0.17
EPS surprise
+23.5%
Reported versus consensus
Reported revenue
$1.08B
Consensus $905.3M
Revenue surprise
+19.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.5%
Event window
SPY move
-0.7%
Same window
Abnormal move
+1.2%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
+7.4%
Up to 20 sessions
NISPY benchmark
Ask FN2 about NI FY2024 Q2
Transcript, numbers and history already loaded
Why did NI rise 0.5% after beating EPS estimates in FY2024 Q2?What changed in NI's guidance and outlook in FY2024 Q2?Give me the bull and bear case for NI after FY2024 Q2 earnings.
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Transcript intelligence
What changed
Relative to the prior analysis, management continued to maintain guidance while emphasizing accelerating Indiana data-center activity, the completed Cavalry Solar project, and ongoing regulatory and infrastructure execution. The opportunity is not yet reflected in the current base plan, and MISO transmission costs remain an open question.
Guidance delta
Maintained: management reaffirmed 2024 adjusted EPS guidance of $1.70-$1.74 and expects to reach the upper half of the range.
Key takeaways
- NiSource reaffirmed 2024 adjusted EPS guidance of $1.70-$1.74 and expects to reach the upper half of the range.
- Regulatory progress included an Indiana gas rate-case settlement, AMI implementation, and progress on Pennsylvania pipeline replacement.
- Data-center activity is accelerating in Indiana, but its financial impact is not yet included in the current base plan.
- The $16.4 billion capital plan includes $2.1 billion of generation spending for coal retirements and solar expansion.
Management priorities
- Advance regulatory approvals and rate-case milestones.
- Continue AMI, solar, and pipeline-replacement projects.
- Refine load-growth scenarios and assess data-center infrastructure and MISO transmission opportunities.
- Maintain balance-sheet flexibility through equity and subordinated-debt financing.
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Miss
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Analyst 52W Price Targets
$41.95Current
$32Low
$45.86Average
$52High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Neutral | Neutral | Maintain | Oct 14, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Oct 13, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Sep 28, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Aug 26, 2026 |
| Ladenburg Thalmann | Buy | Buy | Maintain | Aug 17, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 7, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Mar 5, 2026 |
| UBS | Buy | Buy | Maintain | Dec 17, 2025 |
| Jefferies | Buy | Hold | Upgrade | Oct 31, 2025 |
| Guggenheim | Buy | Buy | Maintain | May 8, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Apr 24, 2025 |
| Credit Suisse | Outperform | Neutral | Upgrade | Nov 9, 2022 |
| Edward Jones | Buy | Hold | Upgrade | Jul 27, 2022 |
| Goldman Sachs | Buy | Neutral | Upgrade | Oct 13, 2021 |
| B of A Securities | Neutral | Neutral | Maintain | Jul 21, 2020 |
| Argus Research | Buy | Hold | Upgrade | Jul 24, 2019 |
| Argus | Buy | Hold | Upgrade | Jul 24, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Apr 22, 2019 |
| Wunderlich Securities | Hold | Hold | Maintain | Aug 1, 2013 |
| Wunderlich | Hold | Hold | Maintain | Aug 1, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $41.95. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| KeyBanc | Sophie Karp | $48 | $41.23 | +14.4% | Oct 13, 2026 |
| BMO Capital | James Thalacker | $45 | $39.42 | +7.3% | Sep 28, 2026 |
| Mizuho Securities | Gabriel Moreen | $48 | $40.97 | +14.4% | Aug 26, 2026 |
| KeyBanc | Sophie Karp | $50 | $46.57 | +19.2% | Jul 23, 2026 |
| Barclays | Analyst unavailable | $51 | $45.97 | +21.6% | Jul 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $52 | $46.88 | +24.0% | Jul 1, 2026 |
| Evercore ISI | Analyst unavailable | $52 | $46.98 | +24.0% | May 11, 2026 |
| Wells Fargo | Shahriar Pourreza | $51 | $47.78 | +21.6% | Apr 21, 2026 |
| BMO Capital | Analyst unavailable | $51 | $48.39 | +21.6% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $49 | $47.72 | +16.8% | Apr 17, 2026 |
| BMO Capital | Analyst unavailable | $50 | $45.22 | +19.2% | Feb 12, 2026 |
| BMO Capital | Analyst unavailable | $49 | $44.33 | +16.8% | Jan 29, 2026 |
| UBS | Analyst unavailable | $48 | $41.43 | +14.4% | Dec 17, 2025 |
| Barclays | Analyst unavailable | $45 | $42 | +7.3% | Dec 8, 2025 |
| Mizuho Securities | Gabriel Moreen | $50 | $41.88 | +19.2% | Dec 3, 2025 |
| Wells Fargo | Analyst unavailable | $47 | $43.73 | +12.0% | Oct 27, 2025 |
| Barclays | Analyst unavailable | $46 | $43.85 | +9.7% | Oct 21, 2025 |
| Evercore ISI | Analyst unavailable | $45 | $44.17 | +7.3% | Oct 6, 2025 |
| BMO Capital | Analyst unavailable | $47 | $42.57 | +12.0% | Sep 29, 2025 |
| Barclays | Analyst unavailable | $44 | $43.33 | +4.9% | Aug 4, 2025 |
| Mizuho Securities | Gabriel Moreen | $44 | $39.61 | +4.9% | Mar 25, 2025 |
| Argus Research | John Eade | $41 | $36.76 | -2.3% | Dec 31, 2024 |
| Jefferies | Julien Dumoulin-Smith | $39 | $35.14 | -7.0% | Oct 28, 2024 |
| BMO Capital | James Thalacker | $36 | $33.53 | -14.2% | Sep 12, 2024 |
| Bank of America Securities | Ross Fowler | $37 | $33.56 | -11.8% | Sep 12, 2024 |
| BMO Capital | James Thalacker | $34 | $31.05 | -19.0% | Aug 9, 2024 |
| BMO Capital | James Thalacker | $31 | $28.44 | -26.1% | May 9, 2024 |
| Credit Suisse | Analyst unavailable | $32 | $30.58 | -23.7% | Apr 26, 2022 |
| Wells Fargo | Analyst unavailable | $35 | $31.8 | -16.6% | Apr 19, 2022 |
Track every rating change on NI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationNiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service lines; and 310 miles of transmission main pipeline in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.…
Historical context
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-19T22:20:44.504941+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T22:20:44.502119+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.