NASDAQ · STOCK
NiSource
$44.44
52W $38.45 – $49.21
47/100
$21.30B
22.0
0.54
Is NI Bullish or Bearish?
Mixed.
Innellis AI committee rates NiSource (NI) Watch with a composite score of 47/100
, based on 7 analysts with 71% agreement.
Last updated July 31, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +12.74 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -7.26 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee sees neither a compelling opportunity nor a clear risk at this stage. Conditions remain neutral — patience is warranted.
Bull & Bear Case
Bull Case
- Dividend yield of 2.7% pays you to wait — Value
- Market regime is bullish (Bull market -- normal position sizing) — Macro
Bear Case
- Debt-to-equity of 1.72 adds balance-sheet risk to the value case — Value
- 3 consecutive earnings misses -- execution concerns — Growth
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- MACD histogram negative -- bearish momentum — Technical
- High leverage (debt-to-equity 1.72) amplifies downside in a stress scenario — Risk
- Current ratio of 0.69 is tight -- limited short-term liquidity cushion — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of July 31, 2026
Overall Committee Score
47/100
Agreement
71%
Analysts
7
Conviction
Moderate
Sector Rank
Top 93%
of 45 Utilities peers
Value Analyst
neutral
50
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
+ Dividend yield of 2.7% pays you to wait
− Debt-to-equity of 1.72 adds balance-sheet risk to the value case
Growth Analyst
bearish
40
/ 100 · High confidence
Growth story is weak, decelerating, or inconsistent
− 3 consecutive earnings misses -- execution concerns
Technical Analyst
neutral
48
/ 100 · High confidence
Mixed or range-bound price action
− MACD histogram negative -- bearish momentum
Risk Analyst
bearish
32
/ 100 · Moderate confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 1.72) amplifies downside in a stress scenario
Macro Analyst
neutral
58
/ 100 · Moderate confidence
Macro backdrop is mixed or neutral -- not a strong tailwind or headwind either way
+ Market regime is bullish (Bull market -- normal position sizing)
News Analyst
neutral
58
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 2744.14)
Investment Thesis Evolution
Committee score moved marginally from 48.7 to 47.3.
- Conviction changed from contested to moderate.
- Committee agreement increased sharply from 43% to 71%.
- New bearish signals: 2 appeared.
- New bullish signals: 1 appeared.
- Bearish pressure eased: 3 signal(s) disappeared.
- Analyst(s) changed stance: Macro Analyst, News Analyst.
Analyst-level changes:
- Macro Analyst: stance bullish->neutral; score 65->58 (-8); +1 bullish signal(s).
- News Analyst: stance bullish->neutral.
- Portfolio Manager: +2 bearish signal(s).
Comparing 2026-07-30 to 2026-07-31 (1 day apart).
Technical Analysis
RSI (14)
29.2
Oversold
MACD Histogram
-0.170
Bearish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Mixed
Support
$41.53
Resistance
$44.73
Bollinger %B
-0.01
Below Lower Band
Price vs Moving Averages
EMA 9
$45.47
Below
EMA 21
$46.04
Below
EMA 50
$46.51
Below
EMA 200
$45.36
Below
Fundamental Analysis
Valuation
61
Growth
30
Profitability
0
Financial Health
19
Cash Flow
8
Valuation
P/E Ratio
22.0×
P/B Ratio
2.20×
PEG Ratio
2.56
Dividend Yield
0.03%
52W High
$49.21
52W Low
$38.45
Quality & Growth
ROE
9.8%
ROA
2.5%
Gross Margin
55.9%
Operating Margin
27.8%
Revenue Growth YoY
—
Debt / Equity
1.74
AI Fundamental Assessment
P/E ratio of 22.0 (inexpensive relative to a 15-40x range); Price-to-book of 2.2x; PEG ratio of 2.6 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 0.1%; Return on assets of 0.0%; Net margin of 0.1%; Gross margin of 0.6%; Current ratio of 0.65 (tight short-term liquidity); Debt-to-equity of 1.74; Free cash flow margin of -0.4% (thin cash generation); Free cash flow per share is negative (-1.74); Most recent quarter missed estimates by 2.3%; 3 consecutive earnings misses; EPS growth decelerating (+168.4% -> +107.8% QoQ); Analyst estimates rising over recent quarters
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