Alpine Associates Management adds Columbia Pipeline Group Inc (CPGX) to its portfolio

Columbia Pipeline Group Inc (CPGX) : Alpine Associates Management added new position in Columbia Pipeline Group Inc during the most recent quarter end. The investment management firm now holds 4,441,800 shares of Columbia Pipeline Group Inc which is valued at $113.2 Million , the company said in a statement filed on May 12, 2016 with the SEC.Columbia Pipeline Group Inc makes up approximately 4.98% of Alpine Associates Management’s portfolio.

Other Hedge Funds, Including , Guardian Life Insurance Co Of America reduced its stake in CPGX by selling 406 shares or 21.99% in the most recent quarter. The Hedge Fund company now holds 1,440 shares of CPGX which is valued at $36,706. Columbia Pipeline Group Inc makes up approx 0.01% of Guardian Life Insurance Co Of America’s portfolio. Gsa Capital Partners Llp sold out all of its stake in CPGX during the most recent quarter. The investment firm sold 13,959 shares of CPGX which is valued $355,815.Yorkville Capital Management reduced its stake in CPGX by selling 25,000 shares or 39.94% in the most recent quarter. The Hedge Fund company now holds 37,600 shares of CPGX which is valued at $953,912. Columbia Pipeline Group Inc makes up approx 1.14% of Yorkville Capital Management’s portfolio.

Columbia Pipeline Group Inc closed down -0.01 points or -0.04% at $25.52 with 52,81,275 shares getting traded on Friday. Post opening the session at $25.54, the shares hit an intraday low of $25.48 and an intraday high of $25.58 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Columbia Pipeline Group Inc reported $0.23 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $. The company had revenue of $364.50 million for the quarter.The company’s revenue was up 7.2% compared to the same quarter last year.

Investors should note that on May 10, 2016, Columbia Pipeline Group Inc announced a cash dividend of $0.1388. The company’s management has announced Jul 27, 2016 as the ex-dividend date and fixed the record date on Jul 29, 2016. The payable date has been fixed on Aug 19, 2016.

Many Wall Street Analysts have commented on Columbia Pipeline Group Inc. Columbia Pipeline Group Inc was Downgraded by Jefferies to ” Hold” on Mar 18, 2016. Columbia Pipeline Group Inc was Initiated by Goldman to “Neutral” on Mar 17, 2016. Columbia Pipeline Group Inc was Downgraded by Credit Suisse to ” Underperform” on Mar 17, 2016.

Columbia Pipeline Group Inc. (CPG) owns and operates natural gas pipelines integrated with the underground storage systems in North America. The Company offers a range of services to local gas distribution companies and users of natural gas. The Company’s systems connect the natural gas supplies with nation’s energy markets serving customers in over 16 states from the Gulf Coast to the Midwest Mid-Atlantic and Northeast. The Company provides approximately 1.3 trillion cubic feet of natural gas through its pipeline and storage systems each year providing energy for millions of homes businesses and industries. The Company’s projects include Leach XPress Project Modernization Program Utica Access Project East Side Expansion project WB XPress Project Cameron Access Project Hanover Replacement Project Tri-County Bare Steel Replacement Project Line 1570 Project E-Systems Project Line MB Extension East Side Expansion Project Utica Access Project and Line WB2VA.

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