Stock Groups

Activist hedge fund Elliott reveals stake in U.S. utility NiSource -Breaking

[ad_1]

© Reuters.

(Reuters) – Elliott Management, an activist investor in NiSource (NYSE :), disclosed Friday its share in NiSource and stated that it supports the decision of the company to name a new chief executives officer. This sent shares to the utility up to a nearly two-year high.

On Thursday, Lloyd Yates was named chief executive officer by the company. Joe Hamrock announced his retirement from NiSource after almost a decade.

Elliott, one of NiSource’s biggest investors, is pleased that the company has decided to refresh its board and management after our recent dialog,” said the activist investor in a statement.

Yates who takes over as president on Feb. 14, most recently held the positions of executive vice president customer operations and president Duke Energy Corp (NYSE:)’s Carolinas region.

Elliott made public its demand that Duke Energy be split into three companies last year and demanded the utility conduct a strategic review. It has also demanded changes in other sectors companies, including Sempra Energy (NYSE 🙂 and Evergy (NYSE 🙂 Inc

NiSource shares rose by 3.97%, to $29.08; their highest point since March 2020.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]