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Should You Buy Western Gas Partners, LP (WES)?

Concerns over a shift in Fed’s easy monetary policy have hit several hedge funds hard during the third quarter. A number of sectors are in correction territory. More importantly, Russell 2000 ETF (IWM) underperformed the larger S&P 500 ETF (SPY) by more than 14 percentage points between June 25, 2015 and October 30, 2015. Hedge funds and institutional investors tracked by Insider Monkey usually invest a disproportionate amount of their portfolios in smaller cap stocks. We have been receiving indications that hedge funds were paring back their overall exposure and this is one of the factors behind the recent movements in major indices. In this article, we will take a closer look at hedge fund sentiment towards Western Gas Partners, LP (NYSE:WES).

Western Gas Partners, LP was in 6 hedge funds’ portfolios at the end of September. WES investors should be aware of an increase in hedge fund interest of late. There were 4 hedge funds in our database with WES positions at the end of the previous quarter. At the end of this article we will also compare WES to other stocks, including Israel Chemicals Ltd. (NYSE:ICL), Msci Inc (NYSE:MSCI), and American Capital Agency Corp. (NASDAQ:AGNC) to get a better sense of its popularity.

Follow Western Gas Partners Lp (NYSE:WES)
Trade (NYSE:WES) Now!

Today there are tons of methods shareholders have at their disposal to value stocks. A pair of the most useful methods are hedge fund and insider trading interest. We have shown that, historically, those who follow the best picks of the best money managers can trounce the market by a significant margin (see the details here).

With all of this in mind, let’s analyze the new action encompassing Western Gas Partners, LP (NYSE:WES).

What does the smart money think about Western Gas Partners, LP (NYSE:WES)?

At the Q3’s end, a total of 6 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 50% from the second quarter. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Jim Simons’ Renaissance Technologies has the number one position in Western Gas Partners, LP (NYSE:WES), worth close to $22.8 million, corresponding to 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is Balyasny Asset Management, led by Dmitry Balyasny, holding a $3.4 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other members of the smart money that hold long positions consist of George Hall’s Clinton Group, Stuart J. Zimmer’s Zimmer Partners and Matthew Hulsizer’s PEAK6 Capital Management.