Dmitry Balyasny Reports A Massive Increase In Holding Of Boardwalk Pipeline Partners LP (BWP)

Dmitry Balyasny, the founder and manager of Balyasny Asset Management, is very bullish on Boardwalk Pipeline Partners, LP (NYSE:BWP). In a recent filing with the Securities and Exchange Commission, Balyasny Asset Management has revealed a massive increase in its stake from 167,500 to 13.80 million shares, a position which accounts for approximately 5.7% of the company’s common stock.

Dmitry Balyasny

Jim Simmons is also a huge fan of Boardwalk Pipeline Partners, LP (NYSE:BWP), having increased his fund’s stake by more than 6,000% during the 2013 fourth quarter. In its latest 13F filing, Renaissance Technologies reported ownership of 453,000 shares valued at $11.5 million. Jean-Marie Eveillard has boosted his fund’s stake by 200% during the same period, taking it to 300,000 shares reportedly worth $7,65 million.

Boardwalk Pipeline Partners, LP (NYSE:BWP) offers transportation and processing services for the natural gas industry. The company has a market cap of $3.8 billion and pays an annual dividend of $1.7 per share, which translates into a yield of 12.10%. So far in 2014, the stock has plummeted 44% to a current price of $14.21 per share. The stock is traded at a trailing Price to Earnings (P/E) ratio of 15.xx, which is significantly lower than the industry average of 41.00.

For the three months ending December 31, 2013, Boardwalk Pipeline Partners announced revenues of $312 million and earnings per share of $0.3. Analysts expect the company to register $302 million in revenues and EPS of $0.3 for the first quarter of 2014. Most brokers expect the stock to underperform.

Balyasny is also bullish on Newfield Exploration Co. (NYSE:NFX), having increased his fund’s holding of the stock by 131% during the fourth quarter of 2013. As a result, Balyasny Asset Management currently holds 4.84 million shares valued at $119 million. Balyasny is also betting big on Apple Inc. (NASDAQ:AAPL) and has taken his fund’s position to approximately 165,500 shares reportedly worth $92.8 million.

Disclosure: none.

Recommended reading:

Edward Lampert, ESL Investments Report Stake In Post Spin-off Lands’ End, Inc. (LE)

Kevin Kotler’s Broadfin Capital Reveals New Stake in Dipexium Pharmaceuticals (DPRX)

Hedge Fund News: Philippe Laffont, Michael Hintze & Stephen Mandel

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!