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

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 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

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!