This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NiSource Outlines Enhanced Long-term Growth And Infrastructure Investment Plans At 2012 Investor Day

MERRILLVILLE, Ind., Sept. 12, 2012 /PRNewswire/ -- NiSource Inc. (NYSE: NI) executives today outlined an enhanced long-term growth strategy, centered around an inventory of more than $25 billion in infrastructure modernization and growth investment opportunities spanning the company's natural gas and electric operations.

At NiSource's 2012 Investor Day meeting in New York, President and Chief Executive Officer Robert C. Skaggs Jr. and other senior executives detailed the company's plans to leverage its broad array of growth and infrastructure modernization investment opportunities to meet customer needs, strengthen earnings and build shareholder value. Taken together, these opportunities are expected to result in capital investments totaling $1.5 to $1.8 billion per year, generating operating earnings growth (non-GAAP) of approximately 5 to 7 percent per year, and annual common stock dividend growth in the range of 3 to 5 percent.

"NiSource has a well-defined and substantial inventory of accretive infrastructure investment and growth opportunities spanning each of our core business units," Skaggs noted. "This broad array of opportunities, combined with our strong track record of disciplined financial management and project execution, has enabled us to enhance our annual capital investment, earnings and dividend growth outlook. This enhanced plan will enable us to meet our core financial commitments – including our commitment to maintaining investment-grade credit ratings – while providing significant benefits for our customers, and added value for our shareholders."

At the meeting, NiSource leaders outlined key growth strategies and more than $25 billion in investment opportunities spanning the next 20-plus years across each of the company's major business units, including:

  • Approximately $8-10 billion in Gas Transmission and Storage infrastructure investment opportunities, including NiSource's recently announced long-term interstate pipeline modernization program, as well as market growth, midstream and minerals projects leveraging the company's strong asset base in the Utica and Marcellus Shale production areas.

 

  • Approximately $10 billion in Gas Distribution infrastructure investments, with most centered in the company's well-established infrastructure programs to modernize its gas distribution systems, in tandem with development of new customer programs and regulatory initiatives.

 

  • Approximately $6-8 billion in investments in Electric operations, including environmental enhancements, electric transmission and distribution system improvements, and generation facility upgrades.

"In support of these investments, NiSource remains focused on pursuing complementary stakeholder-focused customer and regulatory programs designed to improve customer services, reduce energy usage and save money," Skaggs noted.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs