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NiSource Inc NI

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Morningstar’s Analysis

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NiSource Reaffirms 2021 Earnings Guidance and Hints Renewable Energy Investments Could Go Higher

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are reaffirming our $28.50 per share fair value estimate after NiSource reported solid 2020 operating EPS, reaffirmed 2021 guidance, and provided an update on its renewable energy projects in Indiana. The update on the utility’s wind, solar, and energy storage projects increased our confidence in NiSource’s investment plan.

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Company Profile

Business Description

NiSource is one of the nation's largest natural gas distribution companies with approximately 3.5 million customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. NiSource's electric utility transmits and distributes electricity in northern Indiana to about 500,000 customers. The regulated electric utility also owns more than 3,000 megawatts of generation capacity, most of which is now coal-fired but is being replaced by natural gas and renewables.

Contact
801 East 86th Avenue
Merrillville, IN, 46410
T +1 877 647-5990
Sector Utilities
Industry Utilities - Regulated Gas
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type High Yield
Employees 7,389

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