Bank of America Securities analyst Ross Fowler maintained a Buy rating on Nisource (NI – Research Report) yesterday and set a price target of $43.00.
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Ross Fowler has given his Buy rating due to a combination of factors that highlight NiSource’s strategic positioning and growth potential. The company’s GenCo strategy is a significant driver, offering a framework for flexible load management and risk-adjusted returns. This strategy is expected to enhance NiSource’s ability to meet customized load needs and secure higher returns through diverse contracts.
Furthermore, NiSource is capitalizing on economic development opportunities, particularly in Northern Indiana, where there is active interest from hyperscalers for data center sites. The company’s competitive advantage is bolstered by its extensive fiber network and existing infrastructure, which reduce siting friction. Additionally, NiSource’s substantial capex plan and low-cost structure support its long-term growth story, making it an attractive investment with a solid dividend and visible free cash flow growth.
In another report released on June 18, BMO Capital also maintained a Buy rating on the stock with a $44.00 price target.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NI in relation to earlier this year.