NiSource Inc

NI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$98.00	Lwltmw	Gdrvvbwj

NiSource: Blackstone Pays Premium Price for Indiana Utility Share; NiSource a Top Utilities Pick

Travis Miller

Jun 20, 2023

We are raising our fair value estimate to $33 from $32 after NiSource announced a deal to sell a 19.9% interest in its largest subsidiary, NIPSCO, to Blackstone Infrastructure Partners. We are reaffirming our narrow moat and stable moat trend ratings. The stock trades at a 17% discount to our updated fair value estimate.

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