We at Insider Monkey have gone over 742 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article, we look at what those funds think of Enbridge Energy Partners, L.P. (NYSE:EEP) based on that data.
Enbridge Energy Partners, L.P. (NYSE:EEP) has experienced an increase in hedge fund interest lately. EEP was in 10 hedge funds’ portfolios at the end of September. There were 9 hedge funds in our database with EEP positions at the end of the previous quarter. At the end of this article we will also compare EEP to other stocks including Advance Auto Parts, Inc. (NYSE:AAP), Rockwell Collins, Inc. (NYSE:COL), and Lincoln National Corporation (NYSE:LNC) to get a better sense of its popularity.
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
What does the smart money think about Enbridge Energy Partners, L.P. (NYSE:EEP)?
At the end of the third quarter, a total of 10 of the hedge funds tracked by Insider Monkey held long positions in this stock, up by 11% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in EEP over the last 5 quarters. So, let’s see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Of the funds tracked by Insider Monkey, Alec Litowitz and Ross Laser’s Magnetar Capital has the biggest position in Enbridge Energy Partners, L.P. (NYSE:EEP), worth close to $76.4 million, comprising 1.2% of its total 13F portfolio. The second most bullish fund manager is Dmitry Balyasny of Balyasny Asset Management holding a $28.6 million position. Other peers that hold long positions include William Michaelcheck’s Mariner Investment Group, and T Boone Pickens’s BP Capital. We should note that BP Capital is among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.