HSBC Initiates NiSource (NI) at Buy

HSBC initiated coverage on NiSource Inc. NYSE:NI with a Buy rating and a $49.50 price target on October 22, 2026. According to the firm's research note issued that day, the new coverage places an optimistic view on the regulated utility provider as shares traded around $43.37.

NI NiSource Inc.

$43.47 ▲ +5.15% year to date

1M 3M YTD

Daily close · Oct 22, 2026

HSBC's Call on NiSource

On October 22, 2026, HSBC started tracking the utility holding company with a Buy rating and set its price target at $49.50. The rating reflects the bank's forward-looking outlook on the utility sector.

Other Institutional Activity in NiSource

Other large institutional investors adjusted their holdings earlier in the year. Deutsche Bank AG grew its holdings by 359,742 shares, ending with 12,077,706 shares worth about $523,810,096. Jennison Associates LLC grew its holdings by 13,832 shares, ending with 9,235,389 shares worth about $400,538,811.

NiSource Inc. Stock Up 0.9%

NiSource shares recently traded around $43.37 on October 22, 2026, matching its closing price on that date. The stock trades above its 50-day moving average of $40.95, while sitting below its 200-day moving average of $44.83. Shares have traded between a 52-week low of $38.42 and a 52-week high of $49.21.

Recent Earnings

NiSource reported trailing twelve month revenue of $6.88 billion alongside basic earnings of $1.88 per share. The company operates regulated natural gas and electric utilities across the United States through its Columbia Operations and NIPSCO Operations segments. Investors are looking ahead to the company's next earnings report scheduled for October 28, 2026.

Dividend

NiSource pays an annual dividend rate of $1.20 per share, which translates to a dividend yield of 2.79%. The company's dividend payout ratio sits at 61.7%.

Insider Buying and Selling at NiSource Inc.

Company insiders completed several share transactions earlier in the year. On May 20, 2026, officer Melody Birmingham-Byrd disposed of 12,500 shares. Chief Executive Officer Lloyd M Yates sold 19,005 shares on May 21, 2026, at a price of $47.73 for a total value of $950,066. Officer Melanie B Berman sold 15,000 shares on May 22, 2026, at $47.68 per share. Later, on August 14, 2026, Melody Birmingham-Byrd disposed of another 37,509 shares at $42.40 per share.

Analysts Set New Price Targets

Wall Street firms updated their views on NiSource leading up to HSBC's coverage. Citigroup maintained a Neutral rating on October 14, 2026, while lowering its target from $49.00 to $45.00. Barclays maintained an Overweight rating on October 19, 2026, lowering its target from $45.00 to $44.00. BMO Capital maintained an Outperform rating on October 19, 2026, raising its target from $45.00 to $48.00. JP Morgan maintained an Overweight rating on October 20, 2026, adjusting its target from $52.00 to $51.00. Overall, the stock carries a consensus buy recommendation across 16 analyst opinions, with a mean price target of $48.16.

About NiSource

Headquartered in Merrillville, Indiana, NiSource Inc. functions as a regulated utility holding company providing natural gas and electricity to customers. The firm operates vital infrastructure through regional utility networks, making it a key player in the regulated utility space.

Bottom Line

HSBC's new Buy rating adds to a largely positive analyst backdrop for NiSource. Investors will look toward the upcoming earnings release on October 28, 2026, for updated financial guidance.