Nisource Shares Plummet 4.71% as Trading Volume Surges 433% to 630M Ranking 149th on Regulatory Hurdles Delaying Genco Spinoff

On September 4, 2025, Nisource (NYSE: NI) closed down 4.71% with a trading volume of $0.63 billion, a 433.51% increase from the prior day, ranking 149th in market activity. The decline followed regulatory developments in Indiana that could delay the company’s planned spinoff of Genco, its data center power subsidiary.

A Citigroup analyst noted that recent changes at the Indiana Utility Regulatory Commission, including the departure of two commissioners and the rate pay advocate, may prolong or complicate the Genco spinoff application. Ryan Levine, the analyst, maintained a neutral rating and $44 price target for Nisource but highlighted increased uncertainty in the approval timeline. The spinoff is seen as a critical catalyst for the company’s strategic focus on core utility operations and data center energy solutions.

Investing.com reported that Nisource’s shares fell 6% on Thursday as investors reacted to the regulatory shifts. The analyst emphasized that while the Genco application’s success remains likely above 50%, September approval now appears less certain. The company’s restructuring efforts hinge on navigating the revised regulatory landscape to separate its business segments effectively.