NiSource Inc

NI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$35.00	Lwgtrvc	Wpjtrdwt

NiSource: Minority Interest Sale Is the Best Option for Investors; Remains Top Utilities Pick

Travis Miller

May 26, 2023

We are reaffirming our $32 fair value estimate for NiSource after meeting with management and learning more about the strategic decision to sell a minority stake in its largest subsidiary, NIPSCO. We are reaffirming our narrow moat and stable moat trend ratings.

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