Mizuho's New Price Target#
Mizuho has raised its price target for NiSource Inc. shares from $50 to $52, while keeping an Outperform rating. Currently, NiSource's stock trades at $46.93, indicating a potential upside of about 5% based on average analyst targets.
New Energy Agreements#
NiSource recently announced a significant long-term energy agreement for 515 megawatts (MW) at its GenCo segment. This agreement is intended to support a data center being developed by a subsidiary of Alphabet, which is expected to align with Google’s Project Maize data center campus in Michigan City, Indiana, set to launch in 2027.
Strengthening Partnerships#
Additionally, NiSource is accelerating its energy generation for an existing deal with Amazon's data center, which is anticipated to boost earnings beyond current expectations. Mizuho is looking forward to more details regarding capital investments and the timing of energy ramp-up during NiSource’s upcoming earnings report for the first quarter of 2026.
Positive Analyst Sentiment#
Mizuho has also updated its earnings per share estimates for 2027-2029, reflecting stronger expectations for GenCo. The firm adjusted its valuation timeline to fiscal year 2029 to establish the new price target. NiSource, valued at $22.5 billion, has shown a robust 24% return over the past year and has increased its dividend for nine consecutive years, currently yielding 2.56%.
In light of these developments, analysts from Jefferies and BMO Capital have also raised their price targets for NiSource, highlighting the company's strategic focus on expanding its energy infrastructure and solidifying its role in data center development.