More and More Hedge Funds Love Enterprise Products Partners L.P. (EPD)

As one would reasonably expect, some big names were breaking ground themselves. Renaissance Technologies, initiated the biggest position in Enterprise Products Partners L.P. (NYSE:EPD). Renaissance Technologies had $47.5 million invested in the company at the end of the quarter. Leighton Welch’s Welch Capital Partners also initiated a $9.4 million position during the quarter. The other funds with new positions in the stock are Paul Marshall and Ian Wace’s Marshall Wace LLP, Ken Griffin’s Citadel Investment Group, and Jeff Lignelli’s Incline Global Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Enterprise Products Partners L.P. (NYSE:EPD) but similarly valued. These stocks are China Life Insurance Company Ltd. (ADR) (NYSE:LFC), The Chubb Corporation (NYSE:CB), NextEra Energy, Inc. (NYSE:NEE), and American International Group Inc (NYSE:AIG). This group of stocks’ market values match EPD’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LFC 12 47740 1
CB 33 1276402 -4
NEE 35 997374 3
AIG 82 6994716 -3

As you can see these stocks had an average of 40 hedge funds with bullish positions and the average amount invested in these stocks was $2.33 billion. That figure was $523 million in EPD’s case. American International Group Inc (NYSE:AIG) is the most popular stock in this table. On the other hand China Life Insurance Company Ltd. (ADR) (NYSE:LFC) is the least popular one with only 12 bullish hedge fund positions. Enterprise Products Partners L.P. (NYSE:EPD) 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 AIG might be a better candidate to consider for a long position.

Disclosure: None