NiSource Inc.

NYSE:NI Stock Report

Market Cap: US$16.9b

NiSource Valuation

Is NI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NI ($36.17) is trading above our estimate of fair value ($35.22)

Significantly Below Fair Value: NI is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NI?

Key metric: As NI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NI. This is calculated by dividing NI's market cap by their current earnings.
What is NI's PE Ratio?
PE Ratio22.8x
EarningsUS$740.80m
Market CapUS$16.88b

Price to Earnings Ratio vs Peers

How does NI's PE Ratio compare to its peers?

The above table shows the PE ratio for NI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.3x
CMS CMS Energy
19.2x7.9%US$19.9b
CNP CenterPoint Energy
22x9.9%US$21.2b
AEE Ameren
21x9.7%US$23.8b
WEC WEC Energy Group
23.1x11.2%US$29.9b
NI NiSource
22.8x11.8%US$16.9b

Price-To-Earnings vs Peers: NI is expensive based on its Price-To-Earnings Ratio (22.8x) compared to the peer average (21.3x).

Price to Earnings Ratio vs Industry

How does NI's PE Ratio compare vs other companies in the Global Integrated Utilities Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
NI 22.8xIndustry Avg. 16.5xNo. of Companies10PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NI is expensive based on its Price-To-Earnings Ratio (22.8x) compared to the Global Integrated Utilities industry average (16.5x).

Price to Earnings Ratio vs Fair Ratio

What is NI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.8x
Fair PE Ratio20.7x

Price-To-Earnings vs Fair Ratio: NI is expensive based on its Price-To-Earnings Ratio (22.8x) compared to the estimated Fair Price-To-Earnings Ratio (20.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$36.17
US$38.12
+5.4%
3.9%US$41.00US$35.00n/a13
Dec ’25US$38.09
US$38.12
+0.07%
3.9%US$41.00US$35.00n/a13
Nov ’25US$34.49
US$37.42
+8.5%
5.5%US$40.00US$31.44n/a14
Oct ’25US$34.83
US$34.53
-0.9%
6.3%US$38.50US$30.00n/a13
Sep ’25US$33.06
US$33.58
+1.6%
5.2%US$36.00US$30.00n/a12
Aug ’25US$31.76
US$32.41
+2.1%
3.6%US$34.00US$30.00n/a12
Jul ’25US$28.70
US$31.64
+10.3%
3.5%US$34.00US$30.00n/a10
Jun ’25US$29.06
US$31.54
+8.5%
3.8%US$34.00US$30.00n/a10
May ’25US$28.10
US$30.05
+6.9%
4.9%US$33.00US$27.00n/a11
Apr ’25US$27.48
US$29.67
+8.0%
5.0%US$33.00US$27.00n/a12
Mar ’25US$26.13
US$29.58
+13.2%
5.1%US$33.00US$27.00n/a12
Feb ’25US$26.35
US$29.42
+11.6%
4.9%US$33.00US$27.00n/a12
Jan ’25US$26.55
US$29.00
+9.2%
5.5%US$33.00US$27.00n/a11
Dec ’24US$26.20
US$28.91
+10.3%
5.4%US$33.00US$27.00US$38.0911
Nov ’24US$25.40
US$29.10
+14.6%
7.4%US$33.00US$25.00US$34.4910
Oct ’24US$24.68
US$31.00
+25.6%
3.7%US$33.00US$30.00US$34.839
Sep ’24US$26.56
US$31.11
+17.1%
3.5%US$33.00US$30.00US$33.069
Aug ’24US$27.48
US$31.11
+13.2%
3.5%US$33.00US$30.00US$31.769
Jul ’24US$27.35
US$31.00
+13.3%
3.7%US$33.00US$30.00US$28.709
Jun ’24US$26.67
US$31.33
+17.5%
2.6%US$33.00US$30.00US$29.069
May ’24US$28.51
US$31.11
+9.1%
2.4%US$32.00US$30.00US$28.109
Apr ’24US$27.96
US$31.00
+10.9%
2.6%US$32.00US$30.00US$27.489
Mar ’24US$26.83
US$31.00
+15.5%
2.5%US$32.00US$30.00US$26.1310
Feb ’24US$27.86
US$30.60
+9.8%
3.6%US$32.00US$28.00US$26.3510
Jan ’24US$27.42
US$29.70
+8.3%
6.0%US$32.00US$27.00US$26.5510
Dec ’23US$27.75
US$29.10
+4.9%
6.0%US$32.00US$27.00US$26.2010

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 11:50
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

NiSource Inc. is covered by 28 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gary HovisArgus Research Company
Nicholas CampanellaBarclays
Daniel FordBarclays