The raised long-term CAGR to 9%-10% and data center partnerships (Alphabet/Amazon) provide a clear growth narrative for a regulated utility. With 2026 guidance reaffirmed and Q1 in line, the stock should see modest upward pressure. Watch for regulatory rate case outcomes and data center capex updates in subsequent quarters.
Price Chart
Executive Summary
NiSource reported Q1 2026 GAAP EPS of $1.06, in line with the $1.06 Street consensus, and reaffirmed its 2026 non-GAAP consolidated adjusted EPS guidance of $2.02-$2.07. The company raised its long-term EPS CAGR target from 8%-9% to 9%-10% through 2033 and announced expanded GenCo collaborations with Alphabet and Amazon expected to deliver ~$1.4B in customer value. The beat is modest and the guidance unchanged, but the raised long-term growth outlook and data center catalyst are incrementally positive for a regulated utility.
Key Financial Metrics
Key Facts
- Q1 2026 GAAP EPS $1.06 vs $1.00 YoY; non-GAAP consolidated adjusted EPS $1.06 vs $0.98 YoY
- Reaffirmed 2026 non-GAAP consolidated adjusted EPS guidance of $2.02-$2.07
- Raised 2026-2033 non-GAAP consolidated adjusted EPS CAGR to 9%-10% from prior 8%-9%
- GenCo cost savings expanded to ~$1.4B for existing customers through Alphabet and Amazon collaboration
- GAAP net income available to common shareholders: $510.7M vs $474.8M YoY
- Diluted average shares outstanding: 480.9M vs 472.5M YoY
Financial Impact
GAAP net income up 7.6% YoY to $510.7M; adjusted EPS up 8.2% YoY to $1.06
Risk Factors
- Execution risk on $28B capital plan and data center infrastructure investments
- Regulatory lag or disallowances on data center cost recovery
- Interest rate sensitivity given regulated utility capital structure
- Weather normalization adjustments could reverse in future quarters
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001111711-26-000044 |
| Document: nix-20260506.htm | 0001111711-26-000044 |
| Document: 0001111711-26-000044-index-headers.html | 0001111711-26-000044 |
| Document: 0001111711-26-000044-index.html | 0001111711-26-000044 |
| Document: 0001111711-26-000044.txt | 0001111711-26-000044 |
| 8-K Data (Synthetic) | 0001111711-26-000044 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 8-K | $42.91 $41.15 | ▼ −4.10% | ▼ −3.50% | $39.43 (−8.11%) |
Jul 21, 2026 10w ago | Institutional Cluster | $45.37 $42.12 | ▼ −7.16% | ▼ −9.73% | $39.43 (−13.09%) |
May 14, 2026 20w ago | 144 | $47.42 $47.21 | ▼ −0.44% | ▲ +0.42% | $39.43 (−16.85%) |
May 11, 2026 20w ago | 424B5 | $47.03 $46.33 | ▼ −1.49% | ▼ −1.18% | $39.43 (−16.16%) |
May 6, 2026 21w ago | 8-K | $47.51 $45.53 | ▼ −4.17% | ▼ −6.95% | $39.43 (−17.01%) |
Mar 30, 2026 26w ago | DEFA14A | $46.21 $48.50 | ▲ +4.95% | ▼ −7.64% | $39.43 (−14.67%) |
US Market Status
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