NiSource Inc (NI)

NYSE · Utilities · Utilities - Regulated Gas · USA

NiSource Inc is a large cap company (market value between $10 billion and $200 billion) in the Utilities - Regulated Gas industry.

NiSource Inc. operates as an energy holding company with regulated utility subsidiaries delivering natural gas and electricity across six states. Through Columbia Operations, it serves customers of various types throughout Ohio, Pennsylvania, Virginia, Kentucky and Maryland. NIPSCO Operations provides similar services in northern Indiana, while also generating and transmitting power, including to data center customers.

From its FY2025 annual report (Form 10-K)

Intrinsic value, DCF valuation, financial health and value investing analysis for the NiSource Inc stock.

Our verdict on NI

Overvalued: intrinsic value $34.87 per share, market price $41.95, margin of safety -20.3% (as of 2026-10-19).

Discounting its cash flows at 7.1% (average of 2 methods) values the shares at $34.87; the price of $41.95 is 20% above that value.

Leak Score: 29/100 on 10 of 12 signals (On Watch).

ETFs with the most weight in NI

17 more funds hold it; the full list is part of the paid plan.

More on NI

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Cheaper than NI in Utilities - Regulated Gas

2 more in this industry show a wider margin of safety.

Is NI undervalued or overvalued?

NI is overvalued (as of the 2026-10-19 close). Discounting its cash flows at 7.1% (average of 2 methods) values the shares at $34.87; the price of $41.95 is 20% above that value.

What is the intrinsic value of NI?

$34.87 per share (as of the 2026-10-19 close), against a market price of $41.95. That is a margin of safety of -20.3%. The value is the average of the valuation methods that apply to this company, recomputed every night after the US close.

What is NiSource Inc's Leak Score?

29 out of 100, which we rate "On Watch", on 10 of 12 value investing signals.