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Investors Not Convinced That It’s Time To Buy Dominion Midstream Partners LP (DM)

Now, key hedge funds have jumped into Dominion Midstream Partners LP (NYSE:DM) headfirst. Marshall Wace LLP assembled the most valuable position in Dominion Midstream Partners LP (NYSE:DM). Marshall Wace LLP had $0.8 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $0.1 million position during the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Dominion Midstream Partners LP (NYSE:DM). These stocks are Masonite International Corp (NYSE:DOOR), Copa Holdings, S.A. (NYSE:CPA), Calumet Specialty Products Partners, L.P (NASDAQ:CLMT), and Ambarella Inc (NASDAQ:AMBA). This group of stocks’ market valuations are closest to Dominion Midstream Partners LP’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DOOR 28 553480 1
CPA 14 164856 -4
CLMT 8 22180 0
AMBA 27 324322 1

As you can see these stocks had an average of 19.25 hedge funds with bullish positions and the average amount invested in these stocks was $266 million. That figure was just $13 million in Dominion Midstream Partners LP’s case. Masonite International Corp (NYSE:DOOR) is the most popular stock in this table. On the other hand Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Dominion Midstream Partners LP (NYSE:DM) is even less popular than Calumet. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.

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