NiSource Inc., a leading energy provider, announced significant changes to its corporate governance in a recent SEC filing. The company eliminated certain preferred stock classes, including the Series C Mandatory Convertible Preferred Stock, which was automatically transferred and canceled on December 1, 2023. The Board of Directors also adopted amended and restated bylaws to align with recent developments in Delaware law.
These updates are part of NiSource’s efforts to streamline its corporate structure and modernize its governance practices. The company is committed to maintaining an effective and compliant corporate governance structure. The changes aim to simplify its capital structure and enhance governance procedures.
In other recent news, NiSource reported Q2 2024 earnings that exceeded expectations and completed approximately $500 million of its 2024 equity issuance plan. The company projects adjusted EPS growth of 6% to 8% and rate base growth of 8% to 10% from 2023 to 2028. Analysts from Mizuho Securities, Edward Jones, and BMO Capital have maintained positive outlooks on NiSource, with price targets and ratings reflecting optimism about the company’s market valuation.
Additionally, NiSource recently closed a $500 million debt offering and its subsidiary, Northern Indiana Public Service Company, expanded its solar capacity with the operational Cavalry Solar project. These developments demonstrate NiSource’s commitment to financial health and sustainable growth.
InvestingPro insights highlight NiSource’s strong financial performance, market position, and commitment to shareholder value. The company’s market capitalization of $15.61 billion USD reflects its significant presence in the energy sector. NiSource’s dividend policy, operating income margin, and stock performance indicate a solid financial foundation.
Investors can access additional insights through InvestingPro to gain a deeper understanding of NiSource’s financial outlook and market position. The platform offers comprehensive analysis and tips to help investors make informed decisions about NiSource’s potential.
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