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NiSource Shares Rise After Microsoft Power Deal Expands Indiana Data Center Opportunity

Investivoq PriceTracker

NiSource (NI) is up 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is NiSource’s newly announced long-term energy agreement with Microsoft for a northwest Indiana data center campus. Investors appear to be responding to the added visibility around large-load growth, customer-funded infrastructure, and higher projected savings for existing utility customers.

Details:

  • NiSource announced a 20-year agreement under which Microsoft is expected to begin taking electric service in 2028 for its previously announced northwest Indiana campus.
  • The company said the deal lifts expected savings for existing NIPSCO electric customers to about $1.75 billion over the life of its data center contracts, up from the previously disclosed $1.4 billion.
  • NiSource said the arrangement is structured so large-load customers fully fund the generation and transmission needed to serve them, which may have reassured investors that growth should not burden existing customers.
  • A newly filed 8-K also showed GenCo entered a tolling agreement tied to a 600 MW battery storage project, adding another concrete piece of infrastructure behind the broader data center strategy.

    • Sources:

    NIPSCO, SEC, NiSource

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $NI Insider Trading Activity

    NI Insider Trades

    $NI insiders have traded $NI stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.

    Here’s a breakdown of recent trading of $NI stock by insiders over the last 6 months:

    • MELODY BIRMINGHAM (EVP & Grp President, Utilities) has made 0 purchases and 3 sales selling 50,009 shares for an estimated $2,180,813.
    • LLOYD M YATES (Director and President & CEO) sold 19,905 shares for an estimated $950,065
    • MELANIE B. BERMAN (EVP Administration & CHRO) sold 15,000 shares for an estimated $715,200

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $NI Hedge Fund Activity

    We have seen 478 institutional investors add shares of $NI stock to their portfolio, and 311 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 6,990,395 shares (-19.0%) from their portfolio in Q2 2026, for an estimated $332,393,282
    • JPMORGAN CHASE & CO added 6,963,215 shares (+inf%) to their portfolio in Q2 2026, for an estimated $331,100,873
    • SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 4,515,728 shares (+inf%) to their portfolio in Q2 2026, for an estimated $214,722,866
    • UBS GROUP AG removed 3,827,420 shares (-65.2%) from their portfolio in Q2 2026, for an estimated $181,993,821
    • BLACKROCK, INC. added 3,482,756 shares (+6.8%) to their portfolio in Q2 2026, for an estimated $165,605,047
    • BALYASNY ASSET MANAGEMENT L.P. added 3,445,111 shares (+27379.1%) to their portfolio in Q2 2026, for an estimated $163,815,028
    • QUBE RESEARCH & TECHNOLOGIES LTD added 2,392,990 shares (+2320.0%) to their portfolio in Q2 2026, for an estimated $113,786,674

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $NI Government Contracts

    We have seen $2,135,014 of award payments to $NI over the last year.

    Here are some of the awards which we have have seen pay out the most over the last year:

    • NATURAL GAS UTILITY SERVICES (TRANSPORTATION): $424,049
    • COLUMBIA GAS OF OHIO TRANSPORTATION FY26: $249,106
    • NATURAL GAS UTILITY SERVICE: $218,333
    • COLUMBIA GAS FY-26 Q1 NATURAL GAS LDC UTILITY SERVICE - FCI CUMBERLAND FOR FY26 52.232-18 AVAILABILITY OF F...: $200,027
    • COLUMBIA GAS FY-26 Q3 NATURAL GAS LDC UTILITY SERVICE - FCI CUMBERLAND FOR FY26 52.232-18 AVAILABILITY OF F...: $129,376

    To track government contracts to publicy traded companies, check out Investivoq's government contracts dashboard. You can access data on government contracts through the Investivoq API government contracts endpoint.

    $NI Price Targets

    Multiple analysts have issued price targets for $NI recently. We have seen 3 analysts offer price targets for $NI in the last 6 months, with a median target of $52.0.

    Here are some recent targets:

    • Stephen D'Ambrisi from RBC Capital set a target price of $52.0 on 07/02/2026
    • Ryan Levine from Citigroup set a target price of $49.0 on 05/11/2026
    • Shahriar Pourreza from Wells Fargo set a target price of $52.0 on 05/07/2026

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.