NI
NiSource Inc.Evidence as of 2026-09-03Overview · NiSource Inc.
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Vi…
Management team
- Mr. Michael Luhrs · Executive VP of Strategy & Risk and Chief Commercial OfficerFind on LinkedIn
- Mr. Mark Kempic · President & COO of Columbia Gas of Pennsylvania and MarylandFind on LinkedIn
- Vince Parisi · President & COO of Columbia Gas of OhioFind on LinkedIn
- Ms. Melanie Berman · Senior VP & Chief Human Resources OfficerFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
−0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed ( -0.2 of a possible +2; confidence high). Reported revenue from contracts was $ 2,322,300,000 in Q1 2026 (fiscal quarter ended 2026-04-29) and $ 1,289,500,000 in Q2 2026 (fiscal quarter ended 2026-07-29), versus a prior pattern of $ 2,149,500,000 in Q1 2025 (fiscal quarter ended 2025-04-30), $ 1,246,500,000 in Q2 2025 (fiscal quarter ended 2025-07-30) and $ 1,240,200,000 in Q3 2025 (fiscal quarter ended 2025-10-22).
Operating income and net income mirror the same intra-year swings: operating income was $ 819,200,000 in Q1 2026 and $ 228,100,000 in Q2 2026, while net income was $ 507,100,000 in Q1 2026 and $ 45,500,000 in Q2 2026. Trailing twelve‑month metrics show FCF ttm at negative $ 320,800,000, EBITDA ttm $ 2,851,800,000 (EV/EBITDA 9.15 with enterprise value $ 26,091,598,115) and trailing EPS $ 1.57 (P/E 26.21).
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue from contracts was $2,149,500,000 in fiscal Q1 2025 (2025-01-01 to 2025-03-31, 3mo), $1,246,500,000 in fiscal Q2 2025 (2025-04-01 to 2025-06-30, 3mo), $1,240,200,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30, 3mo), $2,322,300,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $1,289,500,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0001111711-25-000020Operating income was $759,400,000 in fiscal Q1 2025 (2025-01-01 to 2025-03-31, 3mo), $262,900,000 in fiscal Q2 2025 (2025-04-01 to 2025-06-30, 3mo), $297,500,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30, 3mo), $819,200,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $228,100,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0001111711-26-000045Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Nothing in this slice of the evidence rose to a claim — a quiet read, which itself is information.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
No computed signal history for this symbol yet — signals need roughly 70 trading days of price history.
Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T13:45:47.228469+00:00, the security is a constituent of the ETF with symbol IVV.
ETF constituents · market dataThe reported weight in that ETF (IVV) is 0.04 percent of the fund.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple filings-based stories report new institutional stakes in NiSource during the 2nd quarter, including Man Group plc acquiring 65,148 shares (~$3,098,000) as reported 1 September 2026.
News · thelincolnianonline.com · 2026-09-01Additional 2nd-quarter institutional purchases were reported, including Corient Private Wealth LP buying 82,905 shares (~$3,943,000) in coverage dated 1 September 2026.
News · thelincolnianonline.com · 2026-09-01Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Free cash flow for the trailing twelve months (FCF ttm) was negative $320,800,000, driven by operating cash flow of $2,268,300,000 less capital expenditures of $2,589,100,000.
Valuation inputs · SEC XBRL + stored EOD closePrice-to-earnings (P/E) on trailing twelve months EPS of $1.57 is 26.21.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several claims jointly support a favorable read: trailing twelve-month operating performance and valuation multiples indicate the company is generating meaningful operating earnings (operating income ttm $1.6077B and EV/EBITDA 9.15), while P/E on ttm EPS of $1.57 is 26.21, and institutional/ETF holders are adding or holding positions (IVV constituent, multiple 2Q institutional purchases reported). The negative free cash flow noted in the filings appears driven by elevated capital expenditures rather than operating shortfalls—DDA ttm is a material noncash add-back ($1.2441B) while operating cash flow remains positive ($2.2683B), consistent with capital-intensive utility investment cycles. Share count has risen modestly (~2.1% from ~469.94M to ~479.56M), which is visible but not large relative to scale, and several quarters show strong operating income and higher net income in Q1 2025 and Q1 2026, supporting that profitability is present though lumpy. Evidence strength: operating-income and valuation metrics are directly reported and strong; capex-driven negative FCF is documented but context (large DDA and capital investment) is clear; institutional buying and ETF inclusion are timely third‑party signals of investor interest.
Chair's verdict, claim by claim
Fragility · computed, not argued
diversified0.29
19 surviving claims rest on 12 distinct sources; the heaviest analyst carries 37% of them, and 100% of what the desk raised survived the debate.
The set of surviving claims is moderately distributed across a dozen distinct sources, but a single analyst thread accounts for a large share of the desk’s surviving assertions, and every issue the desk raised survived internal challenge. That combination raises the information’s immediacy but also a concentration risk: the read is informative but somewhat sensitive to that heavy contributor and to upcoming primary filings. Treat these claims as evidence-backed observations whose weight would change if primary filings or independent source coverage altered key items.
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
15 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer−0.4 to the score
1 holdings record
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on NI Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.