NiSource Stock Price, News & Analysis

NiSource Inc. (NYSE: NI) has priced its offering of 7,500,000 Series A Equity Units, valued at $100 each, with a closing expected on April 19, 2021. An additional 1,125,000 units may be purchased by underwriters. These Corporate Units will offer a 7.75% annual distribution and may result in future common stock purchases. Net proceeds are anticipated to be around $730.4 million, aimed at renewable generation investments and general corporate purposes. NiSource plans to list the Corporate Units under the symbol 'NIMC' on the NYSE.

Northern Indiana Public Service Company (NIPSCO) has signed a build transfer agreement with Capital Dynamics to develop a 200 MW solar energy project in Indiana, known as the Elliot Solar project. Construction is slated to start in summer 2022, with operations expected to begin in summer 2023. This initiative aligns with NIPSCO's commitment to evolve its energy portfolio towards cleaner, more affordable energy, aiming to be coal-free by 2028. The investment is expected to save customers $4 billion long-term as part of NIPSCO's 'Your Energy, Your Future' strategy.

NiSource Inc. announced an offering of 7,500,000 Equity Units, each with a stated amount of $100. This will involve a contract to purchase common stock in the future and ownership interest in Series C Mandatory Convertible Preferred Stock. The offering aims to meet equity needs until 2024 and reduce reliance on block equity issuance. Proceeds will be used for renewable generation investments and corporate purposes, supporting a $2.0 billion capital expenditure plan. The Corporate Units will be listed as 'NIMC' on the NYSE.

Columbia Gas of Pennsylvania, a subsidiary of NiSource (NYSE: NI), has requested the Pennsylvania Public Utility Commission to approve revised rates to upgrade its natural gas distribution pipelines. If approved, the new rates will take effect in December 2021, leading to bill increases of approximately 14.49% for residential customers. Total annual revenue is projected to increase by $98.3 million. The utility has invested over $2.5 billion since 2007 to modernize infrastructure, emphasizing safety and regulatory compliance.

EDP Renewables, through its subsidiary, has partnered with Northern Indiana Public Service Company (NIPSCO) to execute long-term agreements for two renewable energy projects in Indiana. The Indiana Crossroads II Wind Farm, with a capacity of 204 MW, and the 200 MW Indiana Crossroads Solar Park aim to boost the state's clean energy transition. The projects, expected operational by 2023 and 2022 respectively, will contribute to over 1.6 GW of capacity from EDP Renewables in Indiana, enough to power more than 410,000 homes. NIPSCO plans to be coal-free by 2028, enhancing its energy mix and saving customers $4 billion long-term.

EDP Renewables and NIPSCO have signed a Power Purchase Agreement (PPA) for the 204 MW Indiana Crossroads II Wind Farm and a Build & Transfer Agreement (BTA) for a 200 MW Solar Park in Indiana. The wind farm is expected to be operational by 2023, while the solar park is anticipated to be ready in 2022. These projects add to the existing renewable energy capacity in White County, where EDP Renewables is already the largest operator with over 1,001 MW. The agreements support Indiana's clean energy transition and economic growth, with NIPSCO aiming to be coal-free by 2028.

Northern Indiana Public Service Company (NIPSCO) has partnered with Invenergy to develop the Fairbanks Solar project, a 250 megawatt solar initiative in Sullivan County, Indiana, set to begin operations in fall 2023. This project, involving a $110 million investment, is expected to create 250 jobs during construction and aims to save customers $4 billion by transitioning to cleaner energy. NIPSCO plans to become coal-free by 2028, enhancing its renewable energy portfolio as part of its 'Your Energy, Your Future' strategy.

On March 16, 2021, NiSource Inc. (NYSE: NI) announced the declaration of a quarterly common stock dividend of 22 cents per share, payable on May 20, 2021, to stockholders of record by April 30, 2021. Additionally, dividends were declared for preferred stocks: $28.25 per share on the 5.650% Series A stock, and $406.25 for the 6.50% Series B stock, both payable on June 15, 2021. These dividends reflect the company's ongoing commitment to returning value to shareholders.

NiSource Inc. has launched an "at-the-market" equity offering program, allowing it to sell up to $750 million in shares of its common stock. The company has forged agreements with several prominent financial institutions to act as sales agents for this program. Proceeds from the offerings will be used for general corporate purposes, including capital expenditures and debt repayment. A registration statement for the securities has been filed with the SEC and is effective under the Securities Act. Investors are encouraged to review the accompanying prospectus for detailed information.