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Nisource Inc
Sure, I'll provide general information about public company Diversified Utilities with the stock symbol 'NI' in the USA stock exchange, focusing on earnings and growth.
Company Profile:
NI (NiSource Inc.) is a diversified energy company that provides natural gas and electricity services to customers in the Midwest and Northeast regions of the United States. The company was founded in 1912 and is headquartered in Merrillville, Indiana. NiSource's primary business segments include Gas Distribution Operations and Electric Operations.
Gas Distribution Operations:
NiSource's Gas Distribution Operations segment serves residential, commercial, and industrial customers in Indiana, Ohio, and Maryland. The company's primary business is the distribution of natural gas, which is sourced from various suppliers. NiSource's gas distribution operations generated 79% of its 2022 revenue.
Electric Operations:
NiSource's Electric Operations segment generates and distributes electricity in Indiana and Ohio. The company's electric generating capacity is primarily fossil-fueled, with some wind and solar generation. This segment contributed 21% of NiSource's 2022 revenue.
Earnings:
NiSource reported a net income of $1.13 billion in 2022, a 9.3% increase from the previous year. The company's earnings have grown steadily over the past five years, with a compound annual growth rate (CAGR) of 6.5%.
Growth:
NiSource's growth strategy focuses on investing in infrastructure, such as modernizing its gas and electric distribution systems, to improve customer satisfaction and reliability. The company also seeks to expand its clean energy portfolio through renewable energy projects and acquisitions. NiSource aims to reduce its greenhouse gas emissions by 90% by 2050, compared to 2005 levels.
In summary, NiSource (NI) is a diversified energy company with a strong presence in the Midwest and Northeast regions of the United States. Its primary business segments include Gas Distribution Operations and Electric Operations. The company has a history of steady earnings growth and plans to continue investing in infrastructure and clean energy to drive future growth.