Is Enbridge Energy Management, L.L.C. (EEQ) A Good Stock To Buy?

As one would reasonably expect, key money managers have jumped into Enbridge Energy Management, L.L.C. (NYSE:EEQ) headfirst. Springbok Capital, led by Gavin Saitowitz and Cisco J. del Valle, created the most valuable position in Enbridge Energy Management, L.L.C. (NYSE:EEQ). Springbok Capital had $0 million invested in the company at the end of the quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Enbridge Energy Management, L.L.C. (NYSE:EEQ) but similarly valued. We will take a look at Franks International NV (NYSE:FI), Mueller Water Products, Inc. (NYSE:MWA), Artisan Partners Asset Management Inc (NYSE:APAM), and Suburban Propane Partners LP (NYSE:SPH). This group of stocks’ market caps resemble EEQ’s market cap.

As you can see these stocks had an average of 11.5 hedge funds with bullish positions and the average amount invested in these stocks was $79 million. That figure was $24 million in EEQ’s case. Mueller Water Products, Inc. (NYSE:MWA) is the most popular stock in this table. On the other hand Suburban Propane Partners LP (NYSE:SPH) is the least popular one with only 4 bullish hedge fund positions. Enbridge Energy Management, L.L.C. (NYSE:EEQ) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MWA might be a better candidate to consider taking a long position in.

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Disclosure: None