NiSource (NI) vs NorthWestern Energy Group (NWE)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 10, 2026.
Summary
NorthWestern Energy Group (NWE) has outperformed NiSource (NI) over the past year, gaining 27.2% versus a loss of 5.1%. Over five years, NI leads with a +63.8% price change compared with +29.7% for NWE. NiSource is the larger company by market cap ($19.55 billion vs $4.56 billion), about 4.3 times the size.
On valuation, NiSource trades at a lower forward P/E (18.1x vs 18.7x for NorthWestern Energy Group). NorthWestern Energy Group offers the higher dividend yield (3.59% vs 1.42%). NiSource converts more of its revenue into profit, with a net margin of 14.3% versus 11.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | NI | NWE |
|---|---|---|
| Share price | $40.76 | $74.15 |
| Market cap | $19.55B | $4.56B |
| 1-day change | +0.57% | -0.64% |
| YTD return | -2.39% | +14.89% |
| 1-year return | -5.08% | +27.17% |
| 5-year return | +63.83% | +29.72% |
| P/E ratio (TTM) | 21.57 | 26.96 |
| Forward P/E | 18.11 | 18.73 |
| EPS (TTM) | $1.89 | $2.75 |
| Dividend yield | 1.42% | 3.59% |
| Annual dividend | $0.58 | $2.66 |
| Revenue (latest FY) | $6.52B | $1.61B |
| Revenue growth (YoY) | +23.47% | +6.38% |
| Net income (latest FY) | $929.50M | $181.09M |
| Gross margin | 75.71% | — |
| Operating margin | 28.14% | 20.23% |
| Net margin | 14.25% | 11.24% |
| 52-week high | $49.21 | $76.00 |
| 52-week low | $38.42 | $57.12 |
| Distance from 52-week high | -17.17% | -2.43% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +20.53% | -1.89% |
| Average volume | 5.58M | 442.24K |
| Shares outstanding | 479.56M | 61.52M |
| Employees | 7,668 | 1,667 |
| Sector | Utilities | Utilities |
| Industry | Utilities - Regulated Gas | Power Generation |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- NiSource is about 4.3 times larger than NorthWestern Energy Group by market value ($19.55B vs $4.56B).
- NWE has outperformed NI by 32.2 percentage points over the past year.
- NorthWestern Energy Group trades at a higher earnings multiple (27.0x vs 21.6x trailing P/E).
- NorthWestern Energy Group offers a meaningfully higher dividend yield (3.59% vs 1.42%).
- NiSource grew revenue faster in its latest fiscal year (+23.47% vs +6.38%).
About NiSource
NI stock →NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations.
Utilities · Utilities - Regulated Gas · 7,668 employees
About NorthWestern Energy Group
NWE stock →NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and diversified industrial customers. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
Utilities · Power Generation · 1,667 employees
NI vs NWE FAQ
Which is bigger, NiSource or NorthWestern Energy Group?
NiSource (NI) is larger, with a market capitalization of $19.55B compared with $4.56B for NorthWestern Energy Group (NWE).
Which stock has performed better over the past year, NI or NWE?
NWE returned +27.17% over the past 12 months, compared with -5.08% for NI (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, NI or NWE?
NI has the lower trailing P/E at 21.6, versus 27.0 for NWE. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, NiSource or NorthWestern Energy Group?
NorthWestern Energy Group has the higher yield at 3.59%, compared with 1.42% for NiSource.
Are NiSource and NorthWestern Energy Group in the same industry?
Both are in the Utilities sector, but in different industries: Utilities - Regulated Gas for NiSource and Power Generation for NorthWestern Energy Group.