Analyst Consensus ?
ConsensusBuy21 ratings
Bullish1571.4%
Neutral628.6%
Bearish00.0%
NiSource Inc · NI · FY2025 Q2 · Calendar Q3 2025
NiSource narrows EPS outlook as data-center demand supports investment
The supplied analysis supports a constructive but conditional view: regulatory progress, operational efficiency, and data-center and renewable investment provide growth avenues, while demand forecasting, regulatory timing, financing, and project execution remain material tests.
Reported Before market openNYSEUtilities
$18.90B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.22
Consensus $0.20
EPS surprise
+7.3%
Reported versus consensus
Reported revenue
$1.28B
Consensus $1.21B
Revenue surprise
+5.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-2.5%
Event window
SPY move
+0.8%
Same window
Abnormal move
-3.2%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-4.8%
Up to 20 sessions
NISPY benchmark
Ask FN2 about NI FY2025 Q2
Transcript, numbers and history already loaded
Why did NI fall 2.5% after beating EPS estimates in FY2025 Q2?What changed in NI's guidance and outlook in FY2025 Q2?Give me the bull and bear case for NI after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management narrowed FY2025 adjusted EPS guidance to the upper half of the prior $1.85-$1.89 range and emphasized a $19.4 billion five-year capital plan, including $2.2 billion of upside capital expenditure. The call analysis also identified measurable AI-enabled productivity gains and continued progress on renewable projects.
Guidance delta
FY2025 adjusted EPS guidance was narrowed to the upper half of the $1.85-$1.89 range.
Key takeaways
- Q2 adjusted EPS was $0.22, with year-to-date adjusted EPS at $1.19.
- Virginia regulatory progress and pending Indiana approval support the near-term revenue base.
- Management highlighted AI-enabled productivity gains, renewable projects, and data-center-related capital opportunities.
Management priorities
- Advance data-center generation opportunities and finalize the GenCo structure.
- Complete the Gibson and Templeton Wind projects targeted for 2027 commercial operation.
- Refresh the five-year capital plan with upside capital expenditure and continue gas-system hardening.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$39.43Current
$32Low
$46Average
$52High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 3, 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 $39.43. 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 | +14.1% | Sep 28, 2026 |
| Mizuho Securities | Gabriel Moreen | $48 | $40.97 | +21.7% | Aug 26, 2026 |
| KeyBanc | Sophie Karp | $50 | $46.57 | +26.8% | Jul 23, 2026 |
| Barclays | Analyst unavailable | $51 | $45.97 | +29.3% | Jul 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $52 | $46.88 | +31.9% | Jul 1, 2026 |
| Evercore ISI | Analyst unavailable | $52 | $46.98 | +31.9% | May 11, 2026 |
| Wells Fargo | Shahriar Pourreza | $51 | $47.78 | +29.3% | Apr 21, 2026 |
| BMO Capital | Analyst unavailable | $51 | $48.39 | +29.3% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $49 | $47.72 | +24.3% | Apr 17, 2026 |
| BMO Capital | Analyst unavailable | $50 | $45.22 | +26.8% | Feb 12, 2026 |
| BMO Capital | Analyst unavailable | $49 | $44.33 | +24.3% | Jan 29, 2026 |
| UBS | Analyst unavailable | $48 | $41.43 | +21.7% | Dec 17, 2025 |
| Barclays | Analyst unavailable | $45 | $42 | +14.1% | Dec 8, 2025 |
| Mizuho Securities | Gabriel Moreen | $50 | $41.88 | +26.8% | Dec 3, 2025 |
| Wells Fargo | Analyst unavailable | $47 | $43.73 | +19.2% | Oct 27, 2025 |
| Barclays | Analyst unavailable | $46 | $43.85 | +16.7% | Oct 21, 2025 |
| Evercore ISI | Analyst unavailable | $45 | $44.17 | +14.1% | Oct 6, 2025 |
| BMO Capital | Analyst unavailable | $47 | $42.57 | +19.2% | Sep 29, 2025 |
| Barclays | Analyst unavailable | $44 | $43.33 | +11.6% | Aug 4, 2025 |
| Mizuho Securities | Gabriel Moreen | $44 | $39.61 | +11.6% | Mar 25, 2025 |
| Argus Research | John Eade | $41 | $36.76 | +4.0% | Dec 31, 2024 |
| Jefferies | Julien Dumoulin-Smith | $39 | $35.14 | -1.1% | Oct 28, 2024 |
| BMO Capital | James Thalacker | $36 | $33.53 | -8.7% | Sep 12, 2024 |
| Bank of America Securities | Ross Fowler | $37 | $33.56 | -6.2% | Sep 12, 2024 |
| BMO Capital | James Thalacker | $34 | $31.05 | -13.8% | Aug 9, 2024 |
| BMO Capital | James Thalacker | $31 | $28.44 | -21.4% | May 9, 2024 |
| Credit Suisse | Analyst unavailable | $32 | $30.58 | -18.8% | Apr 26, 2022 |
| Wells Fargo | Analyst unavailable | $35 | $31.8 | -11.2% | 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
All NI earningsLatest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-03T15:20:42.190445+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-03T15:20:42.187581+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 2026-10-03. For educational purposes only; not investment advice.