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Investing.com - Wolfe Research raised its price target on NiSource (NYSE:NI) to $46.00 from $45.00 while maintaining an Outperform rating. The stock, currently trading at $42.29, has shown impressive momentum with a 33.64% return over the past year and is trading near its 52-week high of $43.51.
The firm highlighted NiSource’s rate base growth of 8-10% and targeted annual EPS growth of 6-8% through 2029, positioning it among the stronger growth stories in the utility sector. With a market capitalization of $19.92 billion and robust revenue growth of 16.98% in the last twelve months, NiSource has demonstrated solid operational execution.
Wolfe Research noted that approximately 81% of NiSource’s capital expenditures are recovered through trackers and riders, allowing for real-time investment recovery with reduced regulatory lag.
The research firm pointed to NiSource’s renewable energy expansion at NIPSCO electric and its plan to be coal-free by the end of 2028 as positive ESG factors, along with the company’s successful regulatory execution evidenced by recent settlements in key rate cases. The company has maintained dividend payments for 39 consecutive years, demonstrating long-term financial stability.
Following the NIPSCO stake sale, Wolfe Research observed that NiSource’s balance sheet is in a position of strength with FFO/D projected at 14-16%, providing financing flexibility for its $2.2 billion of capital expenditure opportunities over 2026-29. InvestingPro analysis confirms this strength with an overall Financial Health score of "GOOD," offering subscribers access to detailed insights and additional ProTips about NiSource’s financial position.
In other recent news, NiSource Inc. reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an adjusted earnings per share of $0.22, slightly above the forecasted $0.21. Revenue also exceeded projections, reaching $1.16 billion compared to the anticipated $1.04 billion. In addition, CFRA raised its price target for NiSource to $45.00 from $39.00, maintaining a Hold rating on the stock. The research firm highlighted NiSource’s growth opportunities, noting the company’s 8%-10% rate base growth target from 2025 to 2029. Furthermore, NiSource’s board of directors declared a quarterly dividend of $0.28 per share, payable on November 20, 2025, to stockholders of record as of October 31, 2025. These developments reflect NiSource’s ongoing strategic initiatives and financial performance.
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