NI

NISOURCE INC.

Ticker: NIUtilitiesElectric, Gas & WaterS&P 500
HQ MERRILLVILLE, INCIK 1111711FY end 12-31Book / share $19.91Shares 481M
Revenue (FY)
$6.64B+21.76%
TTM $6.88B
Op. margin
27.63%+0.95%
TTM 27.03%
Net income
$1.01B+19.88%
TTM $978.50M
Operating cash
$2.36B+32.60%
TTM $2.30B
Free cash flow
$-420.00M+49.55%
TTM $-1.09B
Return on equity
9.84%+1.02%
TTM 9.45%
Debt / equity
1.72+0.11%
TTM 1.82
Shares outstanding
474.5M+4.06%
TTM 481.0M

The business

NiSource Inc. (NYSE: NIS) is an energy holding company that operates as a fully regulated utility provider serving approximately 3.8 million customers across six states. The company's website is www.nisource.com.

NiSource's business centers on two primary reportable segments: Columbia Operations and NIPSCO Operations. Columbia Operations provides natural gas distribution to approximately 2.4 million residential, commercial, and industrial customers across Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. The segment operates roughly 37,300 miles of distribution main pipeline and 310 miles of transmission main pipeline, supported by owned storage facilities including propane and propane-air gas storage. NIPSCO Operations comprises both gas and electric utilities serving northern Indiana, with approximately 0.9 million gas customers and 0.5 million electric customers across 20 counties. NIPSCO Gas operates approximately 18,100 miles of distribution main pipeline and 720 miles of transmission main pipeline, while NIPSCO Electric generates, transmits, and distributes electricity through a transmission system with voltages ranging from 69,000 to 765,000 volts.

The company employs 7,668 full-time and 70 part-time employees, with 32 percent of the workforce subject to collective bargaining agreements. NiSource's generation portfolio includes eight renewable facilities, two hydroelectric plants, one combined-cycle gas turbine facility, and two coal-fired plants. The company also operates multiple power purchase agreements providing approximately 1,200 megawatts of capacity.

NiSource's strategic focus emphasizes safe and reliable service through rate-regulated, asset-based utilities while advancing infrastructure investment and environmental programs. In 2025, the company entered into a significant agreement with Amazon Data Services to provide electric service through generation assets developed by subsidiary GenCo. The company maintains a net zero greenhouse gas emissions goal by 2040 covering both Scope 1 and Scope 2 emissions, having already reduced Scope 1 emissions by approximately 72 percent from 2005 levels. NiSource derives substantially all revenues and earnings from its regulated utility operations across its service territories.

Sector
Utilities
Industry
Electric, Gas & Water
HQ
MERRILLVILLE, IN
FY end
12-31
CIK
1111711
SIC
4931
Financial performance · annual
20132025
$-743.81M$1.34B$3.42B$5.50B$7.57B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds NISOURCE INC. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

710
funds hold it
0 of 35
superinvestors hold it
$10.66B
fund-held value
46.8%
of shares held by funds
23
bond issues held by funds

Top fund holders

Fund% of fundValue
T. Rowe Price Capital Appreciation Fund
PRWCX · T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.
1.19%$837.35M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.03%$723.92M
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.04%$590.81M
State Street(R) Utilities Select Sector SPDR(R) ETF
XLU · SELECT SECTOR SPDR TRUST
1.61%$370.96M
iShares Core S&P 500 ETF
IVV · iShares Trust
0.04%$313.60M

Bonds held by funds

Funds report holding 23 issues of NISOURCE INC.'s debt, $3.72B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 4.75%, maturing 20272056.

IssueCouponMaturesFundsFund-held
NiSource Inc5.750%2056-07-1593$468.91M
NiSource Inc2.950%2029-09-0166$318.16M
NiSource Inc3.600%2030-05-0194$301.15M
NISOURCE INC5.250%2028-03-30123$286.66M
NiSource Inc.5.850%2055-04-01105$258.82M
NISOURCE INC5.350%2035-07-1564$254.56M
NiSource, Inc.5.200%2029-07-0187$249.93M
NI 5.35 04/01/345.350%2034-04-0186$224.36M
NiSource Inc1.700%2031-02-1584$165.06M
NISOURCE INC6.375%Variable2055-03-3164$164.17M

The 10 largest by fund-held value, of 23.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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15 years of NISOURCE INC.'s financials

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