Risk Intelligence
Core Model
—
Not Available
Fundamentally Qualified
How strong and defensively sound is the company?
This reading is not available for this company yet.
Suggestions
NI · NYSE
NISOURCE INC
Private betaSector unavailable · Industry unavailable
$41.41
-0.02%
Close on Sep 11, 2026
Defensively Qualified
Updated 6/30/2026
Long-term research evidence only. No price targets, no trading signals, no recommendations.
Investment Report Card
NISOURCE INC
Sector unavailable · Data confidence partial
No Pro Investor Score today
Risk Intelligence is unavailable
Long-Term Potential
Research Model
—
Not Available
Weak Compounder
Does the business have the characteristics needed to create value over many years?
This reading is not available for this company yet.
Fundamental Momentum
Research Model
—
Not Available
Middle
Is the underlying business getting stronger or weaker?
This reading is not available for this company yet.
Ownership Intelligence
Supplemental Intelligence
—
Not Available
Positive disclosed activity
What are important owners actually doing?
This reading is not available for this company yet.
Valuation Intelligence
Research Model
D
46 / 100
Elevated
Is today's price reasonable?
Weaker than most covered companies on this measure — and valuation is researched separately from the Suggested Investment Score.
Capital Returns Intelligence
Research Model
D+
51 / 100
Moderate Capital Returns
How effectively does the company reward shareholders?
Weaker than most covered companies on this measure — and capital returns are researched separately from the Suggested Investment Score.
Why it stands out
- Business Quality meets the frozen IA Defensive qualification.
- More disclosed holders are new or increasing than reducing or exiting.
What holds it back
- Elevated valuation: the current market price reflects a premium to this company's historical valuation and comparable companies (Valuation Intelligence 46 out of 100, Elevated).
Long-term view
Long-Term Potential is not available for this company, so no long-term reading is shown.
Ownership view
No disclosed ownership reading is available at the required confidence, so ownership is left blank rather than estimated.
Valuation view
NISOURCE INC reads 46 out of 100 on Valuation Intelligence, recorded as Elevated. The stock currently trades above most of its own recent valuation history and above comparable companies. This describes the price being paid relative to the company's financials — it is not a forecast and not a fair value. Valuation Intelligence is a research model and contributes nothing to the Suggested Investment Score or the daily ranking.
Capital returns view
NISOURCE INC reads 51 out of 100 on Capital Returns Intelligence (Moderate Capital Returns), reflecting a dividend that has grown about 3.0% a year and a share count rising about 2.6% a year. Capital Returns Intelligence is a research model and contributes nothing to the Suggested Investment Score or the daily ranking.
What changed
No meaningful recorded changes in the stored history.
Risk Intelligence is a core model, Long-Term Potential, Fundamental Momentum, Valuation Intelligence and Capital Returns Intelligence are research models, and Ownership Intelligence is supplemental descriptive evidence. Valuation Intelligence and Capital Returns Intelligence each contribute 0% to the Suggested Investment Score. Nothing here is a recommendation.
Compare NI with other companiesResearch Collections
This company does not currently satisfy any collection rule. That is a stored research result, not a judgement about the business.
Browse collections60-Second Brief
Too few stored readings exist for this company to summarise honestly.
Composite discovery model
Pro Investor Score
Pro Investor Score™
Not currently in the Suggested Investment ranking
Risk Intelligence is unavailable. A composite score is only published when every required input is available for this company. Nothing is estimated to fill a gap, and exclusion from the ranking is not a sell instruction.
COMPOSITE DISCOVERY MODEL — RESEARCH STAGE · Ranking updated September 12, 2026
Researched separately
Valuation Intelligence 46 · Elevated
RESEARCH MODEL
Valuation Intelligence is currently researched separately and does not affect the Suggested Investment Score or daily ranking.
Researched separately
Capital Returns Intelligence 51 · Moderate Capital Returns
RESEARCH MODEL
Capital Returns Intelligence is researched separately and contributes 0% to the Suggested Investment Score, the daily rank or any ranking event.
Why this company scores the way it does
This company does not currently hold a stored Pro Investor Score, so no contribution breakdown can be shown.
Pro Investor Intelligence™
Reported by insiders, large shareholders and professional funds. Shown beside our research, never blended into it.
Loading professional-investor activity…
Stored snapshots only
What changed
Research-score history available since September 2026.
Stored research history does not yet cover a full 30 days comparison for this company.
A change is reported as meaningful at 8 score points, 5 rank places, or any change of research classification. Nothing here is a recommendation to buy or sell.
Learn the metrics on this page
Plain-English definitions, with the formula and the limitations of each measure.
Fifth research lens · outside the score
Valuation Intelligence
Valuation Intelligence
Is today's price reasonable?
Valuation Intelligence is currently researched separately and does not affect the Suggested Investment Score or daily ranking.
46/ 100
Elevated
RESEARCH MODEL
Good coverage
Compared with its history
43
Elevated
Is this company expensive or inexpensive compared with its own history?
Compared with peers
22
Expensive
How expensive is this stock compared with similar companies?
Earnings & cash flow
65
Attractive
How much financial output does an investor receive relative to the price paid?
Growth-adjusted
56
Reasonable
Does the company's growth help justify the valuation investors are paying?
NISOURCE INC reads 46 out of 100 on Valuation Intelligence, recorded as Elevated. The stock currently trades above most of its own recent valuation history and above comparable companies. This describes the price being paid relative to the company's financials — it is not a forecast and not a fair value.
Price data through September 11, 2026 · Financial data through the quarter ended June 30, 2026
Valuation history
Stored readings only. The dashed line is this company's own median for the selected measure.
Only one stored valuation reading exists so far, so there is nothing to chart yet. Valuation history builds forward from activation rather than being reconstructed.
Current P/E 21.9x · own median 22.2x · peer median 16.5x
Valuation is inherently uncertain. A stock that appears inexpensive can continue falling, and a stock that appears expensive can continue rising. Valuation Intelligence provides context about the price investors are paying — it does not predict short-term market movements, and it never produces a fair value, a price target or a buy or sell range. Model VALUATION_INTELLIGENCE_V1.
Sixth research lens · outside the score
Capital Returns Intelligence
Capital Returns Intelligence
How effectively does the company reward shareholders?
Capital Returns Intelligence is researched separately and contributes 0% to the Suggested Investment Score, the daily rank or any ranking event.
51/ 100
Moderate Capital Returns
RESEARCH MODEL
Excellent coverage
Dividend Quality
75
Strong Capital Returns
Dividend reliability
Buyback Effectiveness
30
Limited Capital Returns
Do buybacks actually reduce shares?
No net share repurchases are recorded in the stored cash-flow statements.
Dilution Control
15
Limited Capital Returns
Is your ownership share protected?
Capital Return Sustainability
93
Exceptional Capital Returns
Can the cash flow support it?
Shareholder Yield
37
Limited Capital Returns
Cash returned versus company value
NISOURCE INC reads 51 out of 100 on Capital Returns Intelligence (Moderate Capital Returns), reflecting a dividend that has grown about 3.0% a year and a share count rising about 2.6% a year.
No measurable cash was returned to shareholders through dividends or net repurchases in the latest stored statements.
Price data through September 11, 2026 · Financial data through the quarter ended June 30, 2026
Capital returns history
Stored readings only. History builds forward from activation rather than being reconstructed.
Only one stored reading exists for this measure so far, so there is nothing to chart yet.
Why higher yield isn't always better
A very high dividend yield may reflect a falling share price or an unsustainable payout. Capital Returns Intelligence emphasizes consistency and sustainability rather than simply rewarding the highest yield.
Why buybacks can be misleading
Announced or gross buyback spending does not always mean shareholders are gaining ownership. Companies can simultaneously issue shares through employee compensation or acquisitions. Suggested Investments therefore considers actual share-count changes alongside repurchase spending.
What these terms mean
- Dividend Yield
- The annual dividend relative to the current share price.
- Payout Ratio
- The share of company earnings used to pay dividends.
- Free Cash Flow Payout
- How much of the company's available cash is being used for dividends.
- Share Repurchases
- When a company buys back its own stock.
- Dilution
- When the number of shares increases, reducing each existing share's percentage ownership of the company.
- Shareholder Yield
- A combined view of dividends and net share repurchases relative to the company's market value.
Capital Returns Intelligence describes how a company returns capital to shareholders. It is not a measure of stock-price performance, it does not predict future returns, and a strong reading is never a recommendation to buy. Dividends and repurchases can be reduced or stopped at any time. Model CAPITAL_RETURNS_INTELLIGENCE_V1, contributing 0% to the Pro Investor Score.
Stored daily snapshots only
Ranking history
| Today | Not ranked | No stored score |
|---|---|---|
| 30 days ago | Not ranked | No stored score |
| 90 days ago | Not ranked | No stored score |
| First suggested | Not yet suggested | |
| Highest rank | Not ranked | |
In the company’s own words
What this company does
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. In 2025, we entered into the ADS Contract, a customized agreement under which NIPSCO will provide electric service to ADS by procuring power from GenCo, which will develop related generation assets, and we expect our data center operations to continue to grow.
Our goal is to develop strategies that (i) support long-term infrastructure investment and safety programs to better serve our customers, (ii) align our tariff structures with our cost structure, and (iii) drive value and enable growth in an evolving energy ecosystem. These strategies focus on improving safety and reliability, enhancing customer experience, pursuing regulatory and legislative initiatives to increase accessibility for customers currently not on our gas and electric service, ensuring customer affordability and reducing emissions while generating sustainable returns.
Quoted from the business section of this company’s 10-K filed February 11, 2026. Read the filing
Four distinct intelligence areas
The IA view
Risk Intelligence
Production core
50
Restricted
-1.8 vs Jun 30, 2026
Business Quality qualification score from the locked IA Defensive Research Core. Price Risk stays a separate category and is never blended in.
As of Sep 11, 2026
Long-Term Potential
Research model
46
Lower range
+33.2 vs Mar 31, 2026
Durable business economics and reinvestment characteristics. Independent external validation is pending.
As of Jun 30, 2026
Fundamental Momentum
Research model
48
Lower range
-19.4 vs Mar 31, 2026
Direction and breadth of change in underlying business fundamentals. Not a price-momentum signal.
As of Jun 30, 2026
Elite Investor Activity
Supplemental
50
Mid range
0 vs Jun 30, 2026
Only 5 tracked managers disclosed a position — treat as limited coverage.
As of Sep 11, 2026
Company intelligence
NI score history
Each area is measured and reported separately. No combined score exists.
NI intelligence history from 2023-09-30 to 2026-09-11. Risk Intelligence 49.6 on 2026-09-11, down 1.8 from 51.4 on 2026-06-30. Long-Term Potential 45.7 on 2026-06-30, up 33.2 from 12.5 on 2026-03-31. Fundamental Momentum 47.5 on 2026-06-30, down 19.4 from 66.9 on 2026-03-31. Elite Investor Activity 50 on 2026-09-11, unchanged 0 from 50 on 2026-06-30. Each area is reported separately and is never combined into a single score.
Risk Intelligence 49.6 as of Sep 11, 2026 (-1.8 vs prior period) · Production core
Long-Term Potential 45.7 as of Jun 30, 2026 (+33.2 vs prior period) · Research model
Fundamental Momentum 47.5 as of Jun 30, 2026 (-19.4 vs prior period) · Research model
Elite Investor Activity 50 as of Sep 11, 2026 (0 vs prior period) · Supplemental
Share price
NI price history
Closing prices adjusted for splits and dividends. Past prices do not indicate future results.
- 6M change
- -10.2%
- 1Y change
- +3.4%
- 3Y change
- +65.8%
- 5Y change
- +102.4%
- Max change
- +90.1%
Last stored close $41.41 · +3.4% over the selected range · 52 sessions shown
Balanced evidence
Why IA likes it
- Business Quality meets the frozen IA Defensive qualification.
- More disclosed holders are new or increasing than reducing or exiting.
Risk and uncertainty
What IA doesn’t like
- No specific negative evidence is available. This is not evidence of low risk.
What would change our view
- Business Quality falling below the frozen qualification threshold.
- Price Risk moving to a less favorable category.
- A sustained reversal in the Fundamental Momentum research evidence.
- New material public ownership disclosures.
Public filings · descriptive only
Elite Investor Activity
Reporting holders
1
New holders
1
Increasing
0
Reducing
0
Exiting
0
Coverage
Excellent
Positive disclosed activity · Report period 2016-12-31 · Public 12/22/2023
| Manager | Change | Portfolio weight | Rank | Disclosed |
|---|
Insufficient high-confidence manager coverage.
Objective stored changes
What changed
- Risk Intelligence
IA Defensive weakened
Business Quality qualification score moved from 51.4 to 39.8.
- Elite Investor Activity
Tracked managers exited positions
2 tracked managers no longer disclosed a position for the reporting period ending 2026-09-11.
- Risk Intelligence
IA Defensive weakened
Business Quality qualification score moved from 54.0 to 51.4.
- Long-Term Potential
IA Compounder strengthened
IA Compounder research score moved from 12.5 to 45.7.
- Fundamental Momentum
Fundamental Momentum softened
Fundamental Momentum research score moved from 66.9 to 47.5.
- Elite Investor Activity
Tracked managers exited positions
2 tracked managers no longer disclosed a position for the reporting period ending 2026-06-30.
- Elite Investor Activity
Elite Investor Consensus strengthened
Disclosed agreement among tracked managers moved from 38 to 50 for the reporting period ending 2026-03-31.
- Elite Investor Activity
Elite Investor Consensus weakened
Disclosed agreement among tracked managers moved from 88 to 38 for the reporting period ending 2025-12-31.
- Elite Investor Activity
Elite Investor Consensus strengthened
Disclosed agreement among tracked managers moved from 40 to 88 for the reporting period ending 2025-09-30.
- Elite Investor Activity
Elite Investor Consensus weakened
Disclosed agreement among tracked managers moved from 60 to 40 for the reporting period ending 2025-06-30.
Ownership timeline
No high-confidence public ownership events are available.
General research only. Not personalized advice. Public filings may be delayed, amended, incomplete, or reflect positions that have changed since the reporting date.