Publications
Publications
- February 2015
- HBS Case Collection
Longbow Capital Partners
By: Malcolm Baker, Samuel G. Hanson and James Weber
Abstract
Longbow Capital Partners is a value-oriented long/short hedge fund focused on stocks in the energy sector. In January 2011, Longbow had invested in NiSource, a Fortune 500 company that owns a diverse portfolio of regulated energy businesses. In late 2014, Longbow was deciding whether or not to maintain its position in NiSource. To make this decision, students must perform a discounted dividend analysis to determine the fundamental value of NiSource's stock. Students are also asked to perform a sum-of-the-parts analysis to assess the implications of NiSource's recent proposal to pursue a tax-advantaged spin-off of its pipeline business.
Keywords
Value Investing; Investment Strategy; Dividend Yield; Intrinsic Value; Dividend Discount Model; Master Limited Partnership; Hedge Fund; Energy Industry; Regulation; Utilities; Finance; Financial Services Industry; United States
Citation
Baker, Malcolm, Samuel G. Hanson, and James Weber. "Longbow Capital Partners." Harvard Business School Case 215-026, February 2015.
About The Authors
