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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
~$22B
P/E ratio
~22×
Div yield
~2.6%
EPS (2025, GAAP)
$1.95
Adj. EPS guide (2026)
$2.02–2.07
Revenue
$6.6B
Rev. growth
+22%
5-yr capex plan
~$28B
In plain English
NiSource is a regulated gas-and-electric utility holding company. Its Columbia Gas businesses pipe natural gas to ~3.3M homes and businesses across six states, while NIPSCO delivers electricity and gas to northern Indiana. After spinning off its pipelines in 2015 it became a pure regulated utility — and is now one of the most data-centre-exposed names in the sector, building gigawatts of new Indiana generation for Amazon and Google through a Blackstone-backed affiliate.
In simple terms
What NiSource really sells
NiSource is a regulated gas-and-electric utility holding company. Its Columbia Gas businesses pipe natural gas to ~3.3M homes and businesses across six states, while NIPSCO delivers electricity and gas to northern Indiana. After spinning off its pipelines in 2015 it became a pure regulated utility — and is now one of the most data-centre-exposed names in the sector, building gigawatts of new Indiana generation for Amazon and Google through a Blackstone-backed affiliate.
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