Is NISOURCE INC. financially healthy?

NISOURCE INC. scores 6 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of NISOURCE INC.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), STATE STREET CORP (adding), GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

NISOURCE INC. (NI)

NYSE · Common Stock · Electric & Other Services Combined

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 7

PASSReturn on assets positiveROA 2.6%
PASSOperating cash flow positiveOCF 2.4B
PASSReturn on assets improving2.4% → 2.6%
PASSCash flow exceeds earningsOCF 2.4B vs NI 930M
FAILLong-term debt ratio fallingno debt reported
PASSCurrent ratio improving0.51 → 0.69
FAILNo share dilution456M → 475M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.17× → 0.18×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$4.5B	−$17.6M	−$654.1M	—	384,347,000
FY2021	$4.7B	$584.9M	−$620.1M	—	417,300,000
FY2022	$5.7B	$804.1M	−$793.7M	—	442,700,000
FY2023	$5.3B	$714.3M	−$710.7M	—	447,900,000
FY2024	$5.3B	$760.4M	−$832.5M	—	456,000,000
FY2025

Ownership flow

14 institutions tracked — 10 added, 2 reduced, 2 opened a new position.

Institutional holders of NISOURCE INC. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	54,957,602	+3,482,756	$2.6B
CITADEL ADVISORS LLC	Hedge fund	3,982,041	+3,090,461	$189.3M
JPMORGAN CHASE & CO	Active fund	6,963,215	−1,600,418	$335.3M
FMR LLC	Active fund	10,170,078	+945,925	$483.6M

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Dividend per share

2026Q2: $0.30
2026Q1: $0.60
2025Q3: $0.28
2025Q2: $0.28
2025Q1: $0.56
2024Q3: $0.27

Identity

CIK: 0001111711
LEI: 549300D8GOWWH0SJB189
FIGI: BBG000BPZBB6
SIC: 4931 · Electric & Other Services Combined
Incorporated: DE
Headquarters: MERRILLVILLE, IN

Ownership

Institutional: 98.0%
Institutions: 1,230
Insiders: 0.3%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other electric & other services combined companies

NISOURCE INC. files under SIC 4931 — all 8 electric & other services combined companies compared on assets and F-score.

Duke Energy CORPDUK EXELON CORPEXC XCEL ENERGY INCXEL WEC ENERGY GROUP, INC.WEC AMEREN CORPAEE CMS ENERGY CORPCMS

Questions about NISOURCE INC.

Is NISOURCE INC. financially healthy?: NISOURCE INC. scores 6 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of NISOURCE INC.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), STATE STREET CORP (adding), GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.