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NiSource Inc NI

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Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Approval of Two Thirds of Renewable Energy Investment Increases Our Confidence in NiSource’s Growth

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are reaffirming our $28.50 per share fair value estimate after NiSource reported solid 2021 first-quarter operating EPS, increased and narrowed 2021 earnings guidance to the upper end of its previous range, and increased its planned four-year renewable energy investments. Management also reaffirmed its near- and long-term EPS growth rates established at the September 2020 Investor Day meeting.

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Company Profile

Business Description

NiSource is one of the nation's largest natural gas distribution companies with approximately 3.5 million customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. NiSource’s electric utility transmits and distributes electricity in northern Indiana to about 500,000 customers. The regulated electric utility also owns more than 3,000 megawatts of generation capacity, most of which is now coal-fired but is being replaced by natural gas and renewables.

Contact
801 East 86th Avenue
Merrillville, IN, 46410
T +1 877 647-5990
Sector Utilities
Industry Utilities - Regulated Gas
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type High Yield
Employees 7,389

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