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Close of 9 Nov 2026, in USD
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About NiSource
From its filings with the US Securities and Exchange Commission
NiSource is based in Merrillville, Indiana and is incorporated in Delaware. Its shares trade on NYSE under the ticker NI. It is a member of the S&P 500. The SEC classifies its business as electric & other services combined. In the fiscal year to 31 December 2025, it reported revenue of $6.52bn and net income of $929.5m. At that date it held total assets of $35.86bn and shareholders' equity of $9.45bn. By business, Columbia Operations brought in 51.0% of revenue, followed by NIPSCO Operations at 49.0%.
NiSource Inc. is an energy holding company under the Public Utility Holding Company Act of 2005 whose primary subsidiaries are fully regulated natural gas and electric utility companies, serving approximately 3.8 million customers in six states. NiSource is the successor to an Indiana corporation organized in 1987 under the name of NIPSCO Industries, Inc., which changed its name to NiSource Inc. on April 14, 1999.
NiSource’s principal subsidiaries include NiSource Gas Distribution Group, Inc. (a holding company that owns Columbia of Kentucky, Columbia of Maryland, Columbia of Ohio, Columbia of Pennsylvania, and Columbia of Virginia), and NIPSCO Holdings I (a holding company that owns a controlling interest in NIPSCO, a gas and electric utility). NiSource derives substantially all of its revenues and earnings from the operating results of these rate-regulated businesses. In addition, NiSource will develop the generation resources it plans to use in serving data center customers through its subsidiary Generation Holdings I (a holding company that holds a controlling interest in GenCo).
Our business strategy focuses on providing safe and reliable service through our core, rate-regulated, asset-based utilities, with the goal of adding value to all of our stakeholders. Our utilities continue to advance our core safety, infrastructure and environmental investment programs, supported by complementary regulatory and customer initiatives across the six states in which we operate.
Quoted from its 10-K, filed 11 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Utilities
- Industry
- Multi-Utilities
- Listed since
- 19 Dec 1962
- Employees
- 7,668
- Website
- nisource.com ↗
- Head office
- 801 EAST 86TH AVE, MERRILLVILLE, IN, 46410-6272
- Incorporated in
- DE
- Classification
- Electric & Other Services Combined
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Kevin KabatIndependent Chairman of the Board$447,807
- Mr. Lloyd YatesPresident, Chief Executive Officer, Director, since 2020$12.8m
- Mr. Shawn AndersonChief Financial Officer, Executive Vice President$5.2m
- Mr. William JeffersonExecutive Vice President, Chief Operating and Safety Officer$3.1m
- Ms. Melanie BermanChief Human Resources Officer, Senior Vice President - Administration
- Ms. Melody BirminghamExecutive Vice President, President - NiSource Utilities$3.3m
- Mr. Michael LuhrsExecutive Vice President - Strategy and Risk, Chief Commercial Officer$3.0m
- Ms. Kimberly CucciaSenior Vice President, General Counsel, Corporate Secretary
- Mr. Gunnar GodeChief Accounting Officer, Vice President, Controller
- Mr. Peter AltabefIndependent Director$297,163
- Ms. Sondra BarbourIndependent Director$287,807
- Mr. Theodore BuntingIndependent Director$307,807
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 76
- Environment
- 84
- Social
- 86
- Governance
- 59
- Direct emissions (scope 1)
- 5,492,279 t
- Energy emissions (scope 2)
- 59,780 t
- Value chain emissions (scope 3)
- 13,422,309 t
- Women in the workforce
- 27.6%
- Carbon reduction policy
- Yes
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- NiSource Inc has a solid reputation as one of the leading natural gas utility companies in the United States.
- The company has a large and diverse customer base, providing it with a stable source of revenue.
- NiSource Inc has a well-established infrastructure network, including pipelines and storage facilities, which enables efficient distribution of natural gas.
- The company has implemented effective cost management strategies, resulting in improved profitability and financial stability.
Weaknesses
- NiSource Inc heavily relies on natural gas distribution as its primary business, making it vulnerable to fluctuations in natural gas prices and demand.
- The company may face regulatory challenges and compliance costs related to environmental and safety standards in the natural gas industry.
- NiSource Inc has a relatively higher debt-to-equity ratio compared to its industry peers, which can increase financial risks.
Opportunities
- The growing demand for clean energy sources presents an opportunity for NiSource Inc to diversify its operations into renewable energy, such as solar or wind power.
- Increase in natural gas consumption for power generation provides an opportunity for NiSource Inc to expand its customer base and revenue streams.
- Strategic partnerships and acquisitions can help NiSource Inc expand its market reach and enhance its competitive position in the natural gas industry.
Threats
- Intense competition in the natural gas industry can pose a threat to NiSource Inc's market share and profitability.
- Changes in government regulations and policies related to energy production and distribution can impact the company's operations and profitability.
- Emerging technologies and alternative energy sources, such as electric vehicles, could reduce the demand for natural gas and pose a threat to NiSource Inc's business model.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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