Hedge Funds Are Powering Up On Nextera Energy Partners LP (NEP)

With general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Balyasny Asset Management, managed by Dmitry Balyasny, initiated the most valuable position in Nextera Energy Partners LP (NYSE:NEP). Balyasny Asset Management had $7.9 million invested in the company at the end of the quarter. Robert Vollero and Gentry T. Beach’s Vollero Beach Capital Partners also initiated a $1.7 million position during the quarter. The other funds with brand new NEP positions are Charles Davidson’s Wexford Capital, David Costen Haley’s HBK Investments, and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Nextera Energy Partners LP (NYSE:NEP) but similarly valued. These stocks are Colliers International Group Inc (NASDAQ:CIGI), SeaWorld Entertainment Inc (NYSE:SEAS), CYS Investments Inc (NYSE:CYS), and Guess?, Inc. (NYSE:GES). This group of stocks’ market valuations are similar to NEP’s market valuation.

As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $78 million. That figure was $129 million in NEP’s case. Guess?, Inc. (NYSE:GES) is the most popular stock in this table. On the other hand Colliers International Group Inc (NASDAQ:CIGI) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Nextera Energy Partners LP (NYSE:NEP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None