← NiSource overview

NiSource vs Xcel Energy: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

NiSource Inc (NI)

Q3 2026
▲2▼1

NiSource's data-center growth story meets storm costs and a governor's probe

  • Data centers and $28.6B buildout drive growth NiSource won Indiana approval for its Amazon and Alphabet data center contracts, which should return about $1.4 billion in bill relief to existing customers. It has 3 gigawatts of data centers in talks and plans $28.6 billion of investment through 2030, growing its rate base 9-11% a year.

    This is the core long-term force lifting NI: new large power customers and a big regulated construction plan.

  • Weak Q2 profit, but guidance held Second-quarter profit fell to $45.5 million from $102.2 million, with adjusted earnings of $0.16 a share, hurt by record tornadoes and higher storm and labor costs. Management still reaffirmed full-year guidance of $2.02-$2.07 and 6-8% long-term growth, so investors looked past the weak quarter.

    The earnings drop is the main near-term drag, while reaffirmed guidance is the offset that keeps the story intact.

  • Indiana governor seeks NIPSCO investigation Governor Mike Braun asked the state consumer office to file a complaint over NIPSCO's slow storm restoration, with 9,000-plus customers still out nearly two weeks later. A regulatory probe could bring penalties, added costs, or pressure on future rate requests, weighing on NI shares.

    This is the newest and clearest risk to NI: regulatory scrutiny that could cost money and hurt trust.

  • Dividend kept steady, funds still hold NI NiSource declared its usual $0.30 quarterly dividend, payable in August and again in November, keeping its long record of annual increases. Goldman Sachs also listed NI among AI infrastructure stocks bought by both hedge funds and mutual funds, a sign of steady institutional demand.

    Shows the income and fund-ownership support that underpins NI's valuation while growth projects play out.

August 2026
▲2▼1

NiSource's data-center growth story meets storm costs and a governor's probe

  • Data centers and $28.6B buildout drive growth NiSource won Indiana approval for its Amazon and Alphabet data center contracts, which should return about $1.4 billion in bill relief to existing customers. It has 3 gigawatts of data centers in talks and plans $28.6 billion of investment through 2030, growing its rate base 9-11% a year.

    This is the core long-term force lifting NI: new large power customers and a big regulated construction plan.

  • Weak Q2 profit, but guidance held Second-quarter profit fell to $45.5 million from $102.2 million, with adjusted earnings of $0.16 a share, hurt by record tornadoes and higher storm and labor costs. Management still reaffirmed full-year guidance of $2.02-$2.07 and 6-8% long-term growth, so investors looked past the weak quarter.

    The earnings drop is the main near-term drag, while reaffirmed guidance is the offset that keeps the story intact.

  • Indiana governor seeks NIPSCO investigation Governor Mike Braun asked the state consumer office to file a complaint over NIPSCO's slow storm restoration, with 9,000-plus customers still out nearly two weeks later. A regulatory probe could bring penalties, added costs, or pressure on future rate requests, weighing on NI shares.

    This is the newest and clearest risk to NI: regulatory scrutiny that could cost money and hurt trust.

  • Dividend kept steady, funds still hold NI NiSource declared its usual $0.30 quarterly dividend, payable in August and again in November, keeping its long record of annual increases. Goldman Sachs also listed NI among AI infrastructure stocks bought by both hedge funds and mutual funds, a sign of steady institutional demand.

    Shows the income and fund-ownership support that underpins NI's valuation while growth projects play out.

Latest
▲2▼1

NiSource's data-center growth story meets storm costs and a governor's probe

  • Data centers and $28.6B buildout drive growth NiSource won Indiana approval for its Amazon and Alphabet data center contracts, which should return about $1.4 billion in bill relief to existing customers. It has 3 gigawatts of data centers in talks and plans $28.6 billion of investment through 2030, growing its rate base 9-11% a year.

    This is the core long-term force lifting NI: new large power customers and a big regulated construction plan.

  • Weak Q2 profit, but guidance held Second-quarter profit fell to $45.5 million from $102.2 million, with adjusted earnings of $0.16 a share, hurt by record tornadoes and higher storm and labor costs. Management still reaffirmed full-year guidance of $2.02-$2.07 and 6-8% long-term growth, so investors looked past the weak quarter.

    The earnings drop is the main near-term drag, while reaffirmed guidance is the offset that keeps the story intact.

  • Indiana governor seeks NIPSCO investigation Governor Mike Braun asked the state consumer office to file a complaint over NIPSCO's slow storm restoration, with 9,000-plus customers still out nearly two weeks later. A regulatory probe could bring penalties, added costs, or pressure on future rate requests, weighing on NI shares.

    This is the newest and clearest risk to NI: regulatory scrutiny that could cost money and hurt trust.

  • Dividend kept steady, funds still hold NI NiSource declared its usual $0.30 quarterly dividend, payable in August and again in November, keeping its long record of annual increases. Goldman Sachs also listed NI among AI infrastructure stocks bought by both hedge funds and mutual funds, a sign of steady institutional demand.

    Shows the income and fund-ownership support that underpins NI's valuation while growth projects play out.

Xcel Energy Inc (XEL)

Q3 2026
▲3

Xcel's growth story: data centers, big spending, small Michigan exit

  • AI data centers become a real demand driver Xcel signed a Google data center power deal in Minnesota, and Goldman Sachs raised its 2030 data center forecast to 217 GW, naming Xcel a favored utility. More data centers mean more electricity sold and more grid built, which grows the rate base Xcel earns a regulated return on.

    This is the main new force lifting Xcel's long-term earnings outlook.

  • Q2 beat and $70B+ investment plan confirmed Xcel earned $0.93 per share, beating estimates, and said it can now see the full $70-plus billion five-year investment plan, with $6 billion already spent this year and 85% of its equity funding need addressed. Big approved spending usually means steady earnings growth.

    Confirms the capital plan is funded and on track, the core of the bull case.

  • Dividend kept steady, board adds airline executive The board declared its usual 59.25-cent quarterly dividend, payable October 20, signaling financial health. It also added Delta president Peter Carter as a director, bringing large-operations experience. Neither changes the story much, but both support confidence in management.

    Shows shareholder returns intact and governance steady, a mild positive.

  • Small Michigan exit frees focus but shrinks footprint Xcel agreed to sell its tiny Michigan gas and electric businesses (about 15,000 customers total) to SEMCO and UPPCO, pending regulator approval. It is a minor cleanup that lets Xcel concentrate spending on bigger territories, but it slightly reduces its customer base.

    The only negative-leaning item, though small; shows a real counterweight.

August 2026
▲3

Xcel's growth story: data centers, big spending, small Michigan exit

  • AI data centers become a real demand driver Xcel signed a Google data center power deal in Minnesota, and Goldman Sachs raised its 2030 data center forecast to 217 GW, naming Xcel a favored utility. More data centers mean more electricity sold and more grid built, which grows the rate base Xcel earns a regulated return on.

    This is the main new force lifting Xcel's long-term earnings outlook.

  • Q2 beat and $70B+ investment plan confirmed Xcel earned $0.93 per share, beating estimates, and said it can now see the full $70-plus billion five-year investment plan, with $6 billion already spent this year and 85% of its equity funding need addressed. Big approved spending usually means steady earnings growth.

    Confirms the capital plan is funded and on track, the core of the bull case.

  • Dividend kept steady, board adds airline executive The board declared its usual 59.25-cent quarterly dividend, payable October 20, signaling financial health. It also added Delta president Peter Carter as a director, bringing large-operations experience. Neither changes the story much, but both support confidence in management.

    Shows shareholder returns intact and governance steady, a mild positive.

  • Small Michigan exit frees focus but shrinks footprint Xcel agreed to sell its tiny Michigan gas and electric businesses (about 15,000 customers total) to SEMCO and UPPCO, pending regulator approval. It is a minor cleanup that lets Xcel concentrate spending on bigger territories, but it slightly reduces its customer base.

    The only negative-leaning item, though small; shows a real counterweight.

Latest
▲3

Xcel's growth story: data centers, big spending, small Michigan exit

  • AI data centers become a real demand driver Xcel signed a Google data center power deal in Minnesota, and Goldman Sachs raised its 2030 data center forecast to 217 GW, naming Xcel a favored utility. More data centers mean more electricity sold and more grid built, which grows the rate base Xcel earns a regulated return on.

    This is the main new force lifting Xcel's long-term earnings outlook.

  • Q2 beat and $70B+ investment plan confirmed Xcel earned $0.93 per share, beating estimates, and said it can now see the full $70-plus billion five-year investment plan, with $6 billion already spent this year and 85% of its equity funding need addressed. Big approved spending usually means steady earnings growth.

    Confirms the capital plan is funded and on track, the core of the bull case.

  • Dividend kept steady, board adds airline executive The board declared its usual 59.25-cent quarterly dividend, payable October 20, signaling financial health. It also added Delta president Peter Carter as a director, bringing large-operations experience. Neither changes the story much, but both support confidence in management.

    Shows shareholder returns intact and governance steady, a mild positive.

  • Small Michigan exit frees focus but shrinks footprint Xcel agreed to sell its tiny Michigan gas and electric businesses (about 15,000 customers total) to SEMCO and UPPCO, pending regulator approval. It is a minor cleanup that lets Xcel concentrate spending on bigger territories, but it slightly reduces its customer base.

    The only negative-leaning item, though small; shows a real counterweight.