Analyst Consensus ?
ConsensusBuy21 ratings
Bullish1571.4%
Neutral628.6%
Bearish00.0%
NiSource Inc · NI · FY2024 Q4 · Calendar Q1 2025
NiSource raises outlook as data-center growth expands capital plans
The supplied analysis supports a constructive NiSource trajectory: raised guidance, regulated investment and data-center opportunities broaden the growth case, while project execution, financing and regulatory timing remain key tests.
Reported Before market openNYSEUtilities
$19.44B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.47
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus —
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.0%
Event window
SPY move
-0.3%
Same window
Abnormal move
+1.3%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-0.3%
Up to 20 sessions
NISPY benchmark
Ask FN2 about NI FY2024 Q4
Transcript, numbers and history already loaded
What drove NI's +1.0% move after FY2024 Q4 earnings?What changed in NI's guidance and outlook in FY2024 Q4?Give me the bull and bear case for NI after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, the supplied current analysis shows raised guidance, a $19.4 billion base capital plan with an additional $2.2 billion upside plan, and further development of large-load customer initiatives. It also identifies a 16% productivity lift from AI-enabled work management in Ohio.
Guidance delta
Raised; the supplied analysis says 2025 EPS guidance increased to $1.85-$1.89.
Key takeaways
- The supplied analysis says adjusted EPS was $1.75 and 2025 EPS guidance was raised.
- NiSource outlined a $19.4 billion five-year base capital plan plus a $2.2 billion upside plan.
- Data-center development, renewable generation and regulated investment remain the main growth themes.
Management priorities
- Develop the NIPSCO Genco structure for large-load customers.
- Advance solar, wind and storage projects within the capital plans.
- Extend AI-enabled operating improvements and advanced-metering deployment.
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Beat
Miss
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Analyst 52W Price Targets
$40.76Current
$32Low
$46Average
$52High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 9, 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 |
|---|---|---|---|---|
| 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 |
| Keybanc | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Citigroup | Neutral | Neutral | Maintain | May 11, 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 $40.76. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BMO Capital | James Thalacker | $45 | $39.42 | +10.4% | Sep 28, 2026 |
| Mizuho Securities | Gabriel Moreen | $48 | $40.97 | +17.8% | Aug 26, 2026 |
| KeyBanc | Sophie Karp | $50 | $46.57 | +22.7% | Jul 23, 2026 |
| Barclays | Analyst unavailable | $51 | $45.97 | +25.1% | Jul 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $52 | $46.88 | +27.6% | Jul 1, 2026 |
| Evercore ISI | Analyst unavailable | $52 | $46.98 | +27.6% | May 11, 2026 |
| Wells Fargo | Shahriar Pourreza | $51 | $47.78 | +25.1% | Apr 21, 2026 |
| BMO Capital | Analyst unavailable | $51 | $48.39 | +25.1% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $49 | $47.72 | +20.2% | Apr 17, 2026 |
| BMO Capital | Analyst unavailable | $50 | $45.22 | +22.7% | Feb 12, 2026 |
| BMO Capital | Analyst unavailable | $49 | $44.33 | +20.2% | Jan 29, 2026 |
| UBS | Analyst unavailable | $48 | $41.43 | +17.8% | Dec 17, 2025 |
| Barclays | Analyst unavailable | $45 | $42 | +10.4% | Dec 8, 2025 |
| Mizuho Securities | Gabriel Moreen | $50 | $41.88 | +22.7% | Dec 3, 2025 |
| Wells Fargo | Analyst unavailable | $47 | $43.73 | +15.3% | Oct 27, 2025 |
| Barclays | Analyst unavailable | $46 | $43.85 | +12.9% | Oct 21, 2025 |
| Evercore ISI | Analyst unavailable | $45 | $44.17 | +10.4% | Oct 6, 2025 |
| BMO Capital | Analyst unavailable | $47 | $42.57 | +15.3% | Sep 29, 2025 |
| Barclays | Analyst unavailable | $44 | $43.33 | +7.9% | Aug 4, 2025 |
| Mizuho Securities | Gabriel Moreen | $44 | $39.61 | +7.9% | Mar 25, 2025 |
| Argus Research | John Eade | $41 | $36.76 | +0.6% | Dec 31, 2024 |
| Jefferies | Julien Dumoulin-Smith | $39 | $35.14 | -4.3% | Oct 28, 2024 |
| BMO Capital | James Thalacker | $36 | $33.53 | -11.7% | Sep 12, 2024 |
| Bank of America Securities | Ross Fowler | $37 | $33.56 | -9.2% | Sep 12, 2024 |
| BMO Capital | James Thalacker | $34 | $31.05 | -16.6% | Aug 9, 2024 |
| BMO Capital | James Thalacker | $31 | $28.44 | -23.9% | May 9, 2024 |
| Credit Suisse | Analyst unavailable | $32 | $30.58 | -21.5% | Apr 26, 2022 |
| Wells Fargo | Analyst unavailable | $35 | $31.8 | -14.1% | 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 · 2025-01-30T17:29:52.070951+00:00
- Polygon adjusted daily market bars · 2026-10-09T19:50:45.650708+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-09T19:50:45.648052+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 2026-10-09. For educational purposes only; not investment advice.