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Do Hedge Funds and Insiders Love Brookfield Infrastructure Partners L.P. (BIP)?

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Is Brookfield Infrastructure Partners L.P. (NYSE:BIP) a healthy stock for your portfolio? Hedge funds are betting on the stock. The number of long hedge fund bets rose by 1 recently.

Brookfield Infrastructure Partners L.P. (NYSE:BIP)

To most investors, hedge funds are seen as slow, outdated investment tools of yesteryear. While there are over 8000 funds with their doors open at present, we look at the elite of this group, around 450 funds. Most estimates calculate that this group controls the lion’s share of the hedge fund industry’s total asset base, and by paying attention to their best picks, we have determined a few investment strategies that have historically outperformed the market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 24 percentage points in 7 months (explore the details and some picks here).

Just as beneficial, bullish insider trading activity is a second way to break down the stock market universe. There are plenty of reasons for a bullish insider to get rid of shares of his or her company, but only one, very clear reason why they would buy. Many empirical studies have demonstrated the impressive potential of this tactic if investors know what to do (learn more here).

Now, let’s take a glance at the latest action encompassing Brookfield Infrastructure Partners L.P. (NYSE:BIP).

How have hedgies been trading Brookfield Infrastructure Partners L.P. (NYSE:BIP)?

At year’s end, a total of 6 of the hedge funds we track held long positions in this stock, a change of 20% from the third quarter. With the smart money’s capital changing hands, there exists a select group of key hedge fund managers who were increasing their stakes significantly.

According to our comprehensive database, Renaissance Technologies, managed by Jim Simons, holds the largest position in Brookfield Infrastructure Partners L.P. (NYSE:BIP). Renaissance Technologies has a $13 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Christopher C. Grisanti of Grisanti Brown & Partners, with a $1.7 million position; 0.8% of its 13F portfolio is allocated to the stock. Some other hedge funds that hold long positions include Russell Lucas’s Lucas Capital Management, Murray Stahl’s Horizon Asset Management and Bruce Silver’s Silver Capital Management LLC.

As one would reasonably expect, key hedge funds have jumped into Brookfield Infrastructure Partners L.P. (NYSE:BIP) headfirst. Silver Capital Management LLC, managed by Bruce Silver, established the most valuable position in Brookfield Infrastructure Partners L.P. (NYSE:BIP). Silver Capital Management LLC had 0.3 million invested in the company at the end of the quarter.

What have insiders been doing with Brookfield Infrastructure Partners L.P. (NYSE:BIP)?

Bullish insider trading is particularly usable when the primary stock in question has seen transactions within the past half-year. Over the latest six-month time period, Brookfield Infrastructure Partners L.P. (NYSE:BIP) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Brookfield Infrastructure Partners L.P. (NYSE:BIP). These stocks are Pinnacle West Capital Corporation (NYSE:PNW), Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR), ITC Holdings Corp. (NYSE:ITC), Pepco Holdings, Inc. (NYSE:POM), and Alliant Energy Corporation (NYSE:LNT). This group of stocks are the members of the electric utilities industry and their market caps are closest to BIP’s market cap.

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