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NiSource is a regulated gas utility with smaller electricity operations in six states: IN, KY, MD, OH, PA, VA. NiSource has transmission, distribution, and generation operations. The company provides natural gas through its Columbia Gas utilities to 3.3 million customers, of which about two thirds of customers are in Ohio and Pennsylvania. About 70% of natural gas deliveries in 2024 was to residential customers. NiSource's Indiana utility subsidiary, NIPSCO, provides gas and electric distribution to 1.3 million customers and 460,000 electric customers. As of 2024, NIPSCO had about 3,300 MW of generating capacity from 11 facilities and about 55,000 natural gas distribution lines. NI also has LNG operations in Indiana. The company has two coal-fired plants, but hopes to eliminate coal from its generation mix by 2028 and be net zero by 2040. Its generating capacity fuel mix is about 43% coal, 26% natural gas, 17% solar, and 15% wind. Revenues in 2024 were just under $5.5 billion, of which half were from key subsidiary, NIPSCO. The company has approximately 7,200 employees. NI shares are a component of the S&P 500. Its market cap is about $19 billion.

The major stock indices are all broadly lower at midday on Friday. The major theme remains the serious uncertainty over tariffs and all tariff-related issues. But increasing signs of a possibly slowing economy are also very much in play. Today features worrisome guidance from Lululemon Athletica, which warned about cautious consumers. Meanwhile, PCE, the Fed's preferred inflation gauge, showed that prices in February rose more than expected, and the latest readings of consumer sentiment were at the lowest level since 2022.

ONE GAS INC has an Investment Rating of HOLD; a target price of $76.000000; an Industry Subrating of High; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of Medium; a Growth Subrating of Medium; and a Value Subrating of Low.

SPIRE INC has an Investment Rating of HOLD; a target price of $81.000000; an Industry Subrating of High; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of Medium; a Growth Subrating of Medium; and a Value Subrating of Medium.