Although the NASDAQ index is deep in the red and the S&P 500 and Dow Jones are close to flat, shares of Energy Transfer Equity LP (NYSE:ETE), CONSOL Energy Inc. (NYSE:CNX), Transocean LTD (NYSE:RIG), UniPixel Inc (NASDAQ:UNXL), and Santander Consumer USA Holdings Inc (NYSE:SC) are bucking the trend, with each soaring in midday trading. In this article, we’ll analyze why these five stocks are rising and delve into SEC filings to see how the world’s greatest investors are positioned in each of them.
Our research determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here).
Energy Transfer Equity’s Comeback Continues
Energy Transfer Equity LP (NYSE:ETE) shares have surged by 10% today after the company announced a quarterly cash distribution of $0.285 per share, to be paid on May 19 to shareholders of record as of May 6. That’s $1.14 per unit on an annualized basis and a 16% increase over the year-ago payment, while being unchanged from the payment made on February 4. Energy Transfer Equity shares have been on a tear since early February and are now almost 200% above its 2016 lows as crude prices rise higher, though they’re still down by 3% year-to-date. The company plans to release its full earnings report for the first quarter on May 4, after the market close. Richard Perry‘s Perry Capital was one of the top shareholders of Energy Transfer Equity LP (NYSE:ETE) at the end of 2015, from our database of 786 active hedge funds and other institutional investors.
CONSOL Energy Surges on Earnings
CONSOL Energy Inc. (NYSE:CNX) is 7.8% in the green after reporting a better-than-expected loss yesterday. For the first quarter, the natural gas and coal producer lost $0.07 per share on sales of $558.51 million, beating estimates of a $0.09 per share loss, but widely missing revenue estimates of $675.14 million. EBITDA from continuing operations was $133 million for the quarter, down from $234 million in the same quarter a year ago. Adjusted EBITDA was a little bit better, coming in at $176 million, down from $242 million in the first quarter of 2015. The company produced a record 97.5 Bcfe and its liquidity rose to $1.3 billion. Organic free cash flow from continuing operations excluding the recent sale of the Buchanan mine was $35 million. David Einhorn‘s Greenlight Capital owned almost 30 million shares of CONSOL Energy Inc. (NYSE:CNX) at the end of the fourth quarter.
On the next page we examine why Transocean LTD, UniPixel Inc, and Santander are making moves today.