Valued at $17.5 billion by market cap, NiSource Inc. (NI) operates as a regulated utility company that provides natural gas and electric services to nearly 4 million customers across six U.S. states. The Merrillville, Indiana-based utility major’s prime focus includes modernizing infrastructure, expanding systems, and enhancing customer services.

NI is set to unveil its first-quarter results before the markets open on Wednesday, May 7. Ahead of the event, analysts expect NI to report an adjusted EPS of $0.89, up 4.7% from $0.85 reported in the year-ago quarter. Moreover, the company has surpassed Street’s bottom-line projections in each of the past four quarters.

For the full fiscal 2025, NI is expected to deliver an adjusted EPS of $1.87, up 6.9% from $1.75 reported in fiscal 2024. While in fiscal 2026, its earnings are expected to further grow 8% year-over-year to $2.02 per share.

NI stock prices have soared 40.4% over the past 52 weeks, significantly outperforming the Utility Select Sector SPDR Fund’s (XLU) 16.9% gains and the S&P 500 Index’s ($SPX) 9.4% returns during the same time frame.

NiSource’s stock prices rose nearly 1% after the release of its better-than-expected Q4 results on Feb. 12. The company’s operating revenues for the quarter increased 11.3% year-over-year to $1.6 billion, surpassing the Street’s expectations of $1.45 billion by a significant margin. Meanwhile, its adjusted earnings came in at $0.49 per share, exceeding the consensus estimates by 4.3%. Following the initial uptick, NiSource’s stock maintained a positive trajectory for the next four trading sessions.

Furthermore, the consensus view on NI stock remains extremely optimistic, with a “Strong Buy” rating overall. Of the 15 analysts covering the stock, 14 recommend “Strong Buy” and one advocates a “Hold” rating. Its mean price target of $42.64 suggests an 8.1% upside potential from current price levels.