NiSource Inc

NI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$66.00	Mmprk	Msnlbsc

NiSource Earnings: New Investment Opportunities Support Growth Outlook; Top Utilities Pick

Travis Miller

Nov 1, 2023

We are reaffirming our $33 fair value estimate for NiSource after the company reported $0.19 per share of operating earnings in the third quarter, up from $0.10 in the same period last year. Year-to-date earnings are up 10% from last year and on track to meet our full-year estimate and the high end of management's $1.54-$1.60 EPS guidance range. We are reaffirming our narrow moat rating.

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