What Do Hedge Funds Think of Enable Midstream Partners LP (ENBL)?

As one would reasonably expect, key money managers have jumped into Enable Midstream Partners LP (NYSE:ENBL) headfirst. Clinton Group, managed by George Hall, created the largest position in Enable Midstream Partners LP (NYSE:ENBL). Clinton Group had $0.2 million invested in the company at the end of the quarter. Stuart J. Zimmer’s Zimmer Partners also initiated a $0.2 million position during the quarter. The only other fund with a new position in the stock is David Dreman’s Dreman Value Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Enable Midstream Partners LP (NYSE:ENBL) but similarly valued. We will take a look at Liberty Broadband Corp (NASDAQ:LBRDA), The Hain Celestial Group, Inc. (NASDAQ:HAIN), AMC Networks Inc (NASDAQ:AMCX), and Cytec Industries Inc (NYSE:CYT). This group of stocks’ market values match ENBL’s market value.

As you can see these stocks had an average of 28 hedge funds with bullish positions and the average amount invested in these stocks was $515 million. That figure was $1 million in ENBL’s case. Cytec Industries Inc (NYSE:CYT) is the most popular stock in this table. On the other hand AMC Networks Inc (NASDAQ:AMCX) is the least popular one with only 24 bullish hedge fund positions. Compared to these stocks Enable Midstream Partners LP (NYSE:ENBL) is even less popular than AMCX. 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.