Should You Buy EnLink Midstream Partners LP (ENLK)?

Now, some big names were breaking ground themselves. Driehaus Capital also made a $2.6 million investment in the stock during the quarter. The following funds were also among the new ENLK investors: Israel Englander’s Millennium Management, Matthew Hulsizer’s PEAK6 Capital Management, and Vishal Bhutani and Joshua Bederman’s Pyrrho Capital Management.

Let’s go over hedge fund activity in other stocks similar to EnLink Midstream Partners LP (NYSE:ENLK). These stocks are KAR Auction Services Inc (NYSE:KAR), Arista Networks Inc (NYSE:ANET), TIM Participacoes SA (ADR) (NYSE:TSU), and Liberty Property Trust (NYSE:LPT). This group of stocks’ market caps are closest to ENLK’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $385 million. That figure was $128 million in ENLK’s case. KAR Auction Services Inc (NYSE:KAR) is the most popular stock in this table. On the other hand TIM Participacoes SA (ADR) (NYSE:TSU) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks EnLink Midstream Partners LP (NYSE:ENLK) is even less popular than TSU. 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. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

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