NI at a glance
NiSource (NI, SEC CIK 1111711) filed its latest 10-K annual report on February 11, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 18, 2026 and Form 4 insider filings as recently as August 18, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), NiSource (NI) reported revenue of $6.5 billion (up 23.5% from FY2024) and net income of $929.5 million. Diluted EPS was $1.95.
- As of June 30, 2026, 42 institutional investment managers tracked by SignalX reported holding NiSource (NI) shares worth $10.3 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by BIRMINGHAM MELODY on August 14, 2026 of 37,509 shares at $42.40 per share.
- In the last 90 days, NI insiders reported 0 open-market purchases ($0) and 1 open-market sale ($1.6M) on Form 4, a net sale of $1.6M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $6.5B
- +23.5% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$1.6M
- 13F holders
- 42 funds
- $10.3B · +2 vs prior quarter
- Latest 8-K
- Aug 18, 2026
- Item 8.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: fully regulated natural gas and electric utility serving six states through Columbia and NIPSCO segments
- New emphasis on Data Center strategy via GenCo affiliate targeting large load customers, and ADS Contract to supply electricity to Amazon's data centers starting 2027
- Strategic focus on electric generation transition with two solar and one solar-battery projects placed in service
- Infrastructure modernization investment $1.6B including 256 miles distribution main replacement, 45 miles underground cable, 1,656 electric poles replaced
- Customer base grew by 24,000; advanced WAM ERP program for gas distribution and generation operations optimization
Risk Factors
- Regulatory/legal risk from Amended LLC Agreement increasing Blackstone affiliates' mandatory capital contributions by $175 million over seven years
- Geopolitical risk as electric service expansion to data center customers exposed to market uncertainties in data center sector growth
- Operational risk tied to Generation Holdings II's governance changes after 19.9% equity sale to Blackstone affiliates for $35.2 million cash
- Competitive risk from energy market contracts impacted by new arrangements between NIPSCO Holdings II and Generation Holdings II subsidiaries
- Financial risk concentration with Blackstone controlling voting rights as one investor in NIPSCO Holdings II equity holdings
Management Discussion & Analysis
- No goodwill impairment recorded; fair value of reporting units exceeds carrying values as of 2025 year-end
- Unbilled revenue $465.2 million as of December 31, 2025, based on estimated energy delivered between meter readings
- Unrecognized tax benefits $21.7 million as of 2025, valuation allowance increased to $14.8 million from $6.4 million in 2024
- Income tax provision and deferred tax assets require significant judgment; risk of material adjustments exists
AI summary of the NI 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Interest-rate exposure: 100-basis-point change affecting interest expense by $2.2 million quarterly
- Six-month interest-expense sensitivity: $4.2 million in 2026 vs $4.3 million in 2025
- Commodity-price risk limited by regulatory recovery mechanisms for prudently incurred costs
- Cash margin deposits fluctuating significantly during high energy-market volatility
Risk Factors
- No risk-factors section provided in submitted text
- New CFO Rule 10b5-1 plan: sale of up to 13,000 shares by November 30, 2026
- New debt instruments: 4.750% notes due 2031 and 5.300% notes due 2036
- No regulatory, legal, operational, competitive, market, liquidity, currency, or concentration risks disclosed
AI summary of the NI 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- $750 million junior subordinated notes issued August 18, 2026, strengthening NiSource’s funding capacity
- Fixed 6.250% coupon through April 15, 2032, then Treasury rate plus 1.930% with a 6.250% floor
Item 2.02: Results of Operations and Financial Condition
- Fiscal period ended June 30, 2026, with results reported August 5, 2026
- Detailed financial results and management commentary contained in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 GAAP EPS fell to $0.09 from $0.22, while adjusted EPS declined to $0.16 from $0.22
- Six-month adjusted EPS rose to $1.22 from $1.19, supporting reaffirmed 2026 guidance of $2.02-$2.07
Item 8.01: Other Events
- $500M 4.750% notes due 2031 and $750M 5.300% notes due 2036; $1.25B total debt issuance
- Sale closed May 18, 2026, increasing long-term funding commitments through 2036
AI summaries of NI 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for NI
Don't miss the next NI filing
- Alerts as it files. A push when NI files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut NI, by share count.
- Ask anything. An AI agent that reads every NI filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| BIRMINGHAM MELODY | Sell | Aug 14, 2026 | 37,509.173 | $42.40 |
| Jesanis Michael E | J | Jul 13, 2026 | 30,189.569 | - |
| Berman Melanie B. | Sell | May 22, 2026 | 15,000 | $47.68 |
| Yates Lloyd M | Sell | May 21, 2026 | 19,905 | $47.73 |
| BIRMINGHAM MELODY | Sell | May 20, 2026 | 2,500 | $47.43 |
| BIRMINGHAM MELODY | Sell | May 14, 2026 | 10,000 | $47.19 |
| KABAT KEVIN T | A | May 11, 2026 | 3,807 | $47.03 |
| Lee Cassandra S. | A | May 11, 2026 | 3,807 | $47.03 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $5.3B | $6.5B |
| Operating Income | - | $1.5B | $1.8B |
| Net Income | $714.3M | $760.4M | $929.5M |
| Op. Margin | - | 27.6% | 28.1% |
| Net Margin | - | 14.4% | 14.3% |
| Balance Sheet | |||
| Total Assets | $31.1B | $31.8B | $35.9B |
| Equity | - | $8.7B | $9.5B |
| ROE | - | 8.8% | 9.8% |
| Per Share | |||
| EPS | $1.48 | $1.62 | $1.95 |
| Cash Flow | |||
| Operating CF | - | $1.8B | $2.4B |
| CapEx | $2.6B | $2.6B | $2.8B |
Source: XBRL data in NiSource (NI)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate NI share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 42 | $10.35B |
| Q1 2026 | 40 | $9.62B |
| Q4 2025 | 37 | $8.52B |
| Q3 2025 | 39 | $9.60B |
| Q2 2025 | 37 | $8.54B |
| Q1 2025 | 35 | $6.67B |
| Q4 2024 | 32 | $5.31B |
| Q3 2024 | 27 | $2.47B |
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- Fifth Third Bancorp−39.7K (-32%)
- Millennium Management−159.5K
Source: 13F-HR filings on SEC EDGAR (aggregated from 289 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
NI filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Aug 18, 2026 | - | - | - |
| 8-K | Aug 18, 2026 | - | Analysis | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 4 | Jul 15, 2026 | - | - | - |
| 4 | May 27, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 8-K | May 18, 2026 | - | Analysis | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 8-K | May 12, 2026 | - | Analysis | |
| 8-K | May 6, 2026 | - | Analysis | |
| 10-Q | May 6, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 30, 2026 | - | - | |
| SC 13G | Apr 29, 2026 | - | - |
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NI SEC filings: frequently asked questions
Are NI insiders buying or selling?
In the last 90 days, NiSource (NI) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $1.6 million by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold NI stock?
As of June 30, 2026, the largest NiSource (NI) holders among the 13F filers tracked by SignalX were BlackRock ($2.6 billion), Vanguard Capital Management LLC ($1.5 billion), State Street Corp ($1.3 billion), Vanguard Portfolio Management LLC ($1.3 billion), FMR LLC (Fidelity) ($483.6 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was NI's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), NiSource (NI) reported revenue of $6.5 billion (up 23.5% from FY2024) and net income of $929.5 million. Diluted EPS was $1.95. The figures come from the XBRL data in the 10-K.
What are the main risks in NI's latest 10-K?
In the 10-K filed February 11, 2026, NiSource (NI) flagged: Regulatory/legal risk from Amended LLC Agreement increasing Blackstone affiliates' mandatory capital contributions by $175 million over seven years. Geopolitical risk as electric service expansion to data center customers exposed to market uncertainties in data center sector growth. (AI summary of the Risk Factors section.)
What did NI report in its latest 8-K?
NiSource (NI) filed an 8-K on August 18, 2026 reporting Item 8.01 (Other Events). $750 million junior subordinated notes issued August 18, 2026, strengthening NiSource’s funding capacity.
What are the latest NI SEC filings?
NiSource (NI) filed its latest 10-K annual report on February 11, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 18, 2026 and a Form 4 insider filing on August 18, 2026.
What is NI's SEC CIK number?
NiSource (NI)'s SEC Central Index Key (CIK) is 1111711. EDGAR lists every NI filing under that number.
Ask anything about NI
The research agent reads NI's filings, financials, insider trades and 13F holders, then answers with sources.