Energy utility NiSource (NI) continues to meaningfully expand its data-center power business, most recently announcing a major deal with Microsoft (MSFT) on Oct. 16. Meanwhile, the Indiana-based utility expects its earnings per share, excluding certain items, to grow at a robust compound annual growth rate (CAGR) of 9% to 10% between 2026 and 2033, while the company — which serves roughly 3.3 million natural gas customers and 500,000 electricity customers across six states — may be able to expand its data-center business to other states. Finally, two banks have been bullish on NI stock recently, while shares are changing hands at a relatively low valuation despite a significant dividend yield.
As a consequence of all of these points, value investors, growth-at-a-reasonable-price investors, and conservative investors may want to consider buying NI stock. Let's take a closer look.
