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Hedge Funds Are Betting On Boardwalk Pipeline Partners, LP (BWP)

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Is Boardwalk Pipeline Partners, LP (NYSE:BWP) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas.

Boardwalk Pipeline Partners, LP (NYSE:BWP) was in 17 hedge funds’ portfolios at the end of September. BWP shareholders have witnessed an increase in support from the world’s most elite money managers recently. There were 15 hedge funds in our database with BWP positions at the end of the previous quarter. At the end of this article we will also compare BWP to other stocks including Cedar Fair, L.P. (NYSE:FUN), Cobalt International Energy, Inc. (NYSE:CIE), and Curtiss-Wright Corp. (NYSE:CW) to get a better sense of its popularity.

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To most stock holders, hedge funds are viewed as unimportant, outdated financial vehicles of yesteryear. While there are over an 8000 funds in operation today, Our researchers choose to focus on the aristocrats of this club, approximately 700 funds. It is estimated that this group of investors command most of all hedge funds’ total capital, and by watching their first-class equity investments, Insider Monkey has determined many investment strategies that have historically beaten the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points a year for a decade in their back tests.

With all of this in mind, we’re going to check out the recent action encompassing Boardwalk Pipeline Partners, LP (NYSE:BWP).

Hedge fund activity in Boardwalk Pipeline Partners, LP (NYSE:BWP)

At the end of the third quarter, a total of 17 of the hedge funds tracked by Insider Monkey were long this stock, an increase of 13% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Alec Litowitz and Ross Laser’s Magnetar Capital has the biggest position in Boardwalk Pipeline Partners, LP (NYSE:BWP), worth close to $78.5 million, corresponding to 2% of its total 13F portfolio. The second largest stake is held by Balyasny Asset Management, led by Dmitry Balyasny, holding a $45.1 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Some other professional money managers that are bullish encompass Kieran Goodwin’s Panning Capital Management, James Dondero’s Highland Capital Management and Jim Simons’s Renaissance Technologies.

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