NI

NiSource Inc

Utilities · $18.8B market cap

Share price

$39.43

close of Oct 3, 2026

Fair value

$21.49

Sticker Price

Payback Price

$8.60

buy price

Overpriced

NI is Overpriced: at $39.43 it trades 83% above its fair value of $21.49. Its buy price (Payback Price) is $8.60, 78% below today's price. Business quality is limited: none of the 5 key numbers clears the 10% bar.

How we valued it

Justified P/B (Financials). It has earned a steady return on its equity for years, and its tangible assets are worth 43% of its share price. For a business like that, book value and the return on it are a sturdier guide than an earnings forecast.

Business quality

0 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth6.3% a year✗

Equity per share growth0.4% a year✗

Sales growth-1.8% a year✗

Free cash flow growth-17.1% a year✗

Return on invested capital4.1%✗

Follow NI

Get notified when it reaches its buy price of $8.60. Free.

Create a free account

Insider activity

Since Jul 13, 2026: no open-market purchases, 1 sale worth $1.6M and 1 other filing (stock awards, tax withholding and similar). Why purchases matter

Sales

BIRMINGHAM MELODY

EVP & Grp President, Utilities · 2026-08-14

Sold

$1.6M

Other filings

Jesanis Michael E

director · 2026-07-13

J-Other

30,189.569 shares

About NiSource Inc

NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service lines; and 310 miles…

Regulated Gas