NiSource's (NI) investment in power generation could boost earnings per share by 2030, assuming two 625 megawatts combined cycle gas turbines are built and commissioned by 2030 for Indiana data centers, UBS Securities said in a note Monday.
How the company funds the generation projects could yield an earnings range of 18 cents to 28 cents, UBS said.
"While we think the company will ultimately fund this via a mixture of debt and equity there may be more balance sheet capacity in the out years of the plans so we wouldn't rule out the company using more debt to finance these assets," UBS said in the note.
UBS maintained a buy rating on NiSource with a price target of $45.
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