Merrillville, Indiana-based NiSource Inc. (NI) is an energy holding company that operates as a regulated natural gas and electric utility company. Valued at $22.8 billion by market cap, the company provides natural gas to approximately 2.4 million residential, commercial, and industrial customers, and also generates, transmits, and distributes electricity to approximately 0.5 million customers in various counties in the northern part of Indiana.
Shares of this leading natural gas distribution company have underperformed the broader market over the past year. NI has gained 16.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 30.3%. However, in 2026, NI stock is up 12.6%, surpassing SPX’s 7.2% rise on a YTD basis.
Narrowing the focus, NI’s outperformance is apparent compared to the State Street Utilities Select Sector SPDR ETF (XLU). The exchange-traded fund has gained about 11.8% over the past year. Moreover, NI’s double-digit returns on a YTD basis outshine the ETF’s 5.7% gains over the same time frame.
On May 6, NI shares closed down by 1.4% after reporting its Q1 results. Its adjusted EPS of $1.06 met Wall Street expectations. NI expects full-year adjusted EPS in the range of $2.02 to $2.07.
For the current fiscal year, ending in December, analysts expect NI’s EPS to grow 7.9% to $2.05 on a diluted basis. The company’s earnings surprise history is mixed. It beat or matched the consensus estimate in three of the last four quarters while missing the forecast on another occasion.
Among the 16 analysts covering NI stock, the consensus is a “Strong Buy.” That’s based on 12 “Strong Buy” ratings, and four “Holds.”
This configuration is more bullish than two months ago, with 11 analysts suggesting a “Strong Buy.”
On Apr. 28, JPMorgan Chase & Co. (JPM) analyst Eli Jossen maintained a “Buy” rating on NI and set a price target of $52, implying a potential upside of 10.6% from current levels.
The mean price target of $51 represents an 8.5% premium to NI’s current price levels. The Street-high price target of $55 suggests an upside potential of 17%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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