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T. Boone Pickens is the founder and chairman of the hedge fund BP Capital Management. Pickens invests 90 percent in oil and gas equities and 10 percent in commodities. Pickens has worked nearly 40 years in Mesa Petroleum, which he founded in 1956.

On Tuesday, Pickens' BP Capital Management released its 13-F filing for the quarter ended March 31, 2012. Picken's sold-out his positions in Exxon Mobil (NYSE:XOM) and McMoRan (NYSE:MMR) during the first quarter. Below we compiled a list of Pickens' brand new positions. We obtained market data from Finviz and MSN Money; hedge fund holdings from Insider Monkey.

Stock

Market Cap
(Billion $)

Dividend Yield

P/E

Beta

Calpine (NYSE:CPN)

7.7

0.0%

87.1

1.27

Encana (NYSE:ECA)

14.7

4.0%

133.3

1.04

Exelon (NYSE:EXC)

25.5

5.5%

12.7

0.54

NRG Energy (NYSE:NRG)

3.6

0.0%

17.7

0.71

Valero Energy (NYSE:VLO)

11.9

2.8%

7.9

1.42

Calpine Corporation is an independent wholesale power generation company operating in North America. Shares of CPN recently traded at $17.49 with a trailing price to earnings of 87.1 and a forward price to earnings of 25.62. CPN gained 6.87% during the past 12 months. The stock has a market cap of $7.7 billion and total debt/equity ratio of 2.44. CPN has an estimated growth rate of 106.06% for this year and 20.79% for next five years. Pickens' initiated a $5 million position in CPN during the first quarter. John H. Scully's Spo Advisory Corp had $107 million invested in CPN at the end of 2011.

Encana Corporation produces and sells natural gas, oil, and natural gas liquids. Shares of ECA recently traded at $19.98 with a trailing price to earnings of 133.33 and a forward price to earnings of 117.65. ECA has a 4% dividend yield and lost 36.12% during the past 12 months. The stock has a market cap of $14.7 billion and total debt/equity ratio of 0.5. ECA has an estimated growth rate of -77.92% for this year and -13% for next five years. Pickens' initiated a $18 million position in ECA during the first quarter. Daniel Bubis' Tetrem Capital Management hold the largest position in ECA with its $107 million investment at the end of 2011.

Exelon Corporation generates electricity in the United States. As can be seen from the below graph, EXC is one of the most stable investments of Pickens. Shares of EXC recently traded at $38.43 with a trailing price to earnings of 12.7 and a forward price to earnings of 12.58. EXC has a 5.46% dividend yield and lost 3.53% during the past 12 months. The stock has a market cap of $25.5 billion and total debt/equity ratio of 0.86. EXC has an estimated growth rate of 0.66% for this year and -1.08% for next five years. Pickens' initiated a $5 million position in EXC during the first quarter. Steven Cohen had $18 million invested in EXC shares at the end of 2011.

NRG Energy is an integrated power generation and retail electricity company. Shares of NRG recently traded at $15.83 with a trailing price to earnings of 17.66 and a forward price to earnings of 142.91. NRG lost 36.33% during the past 12 months. The stock has a market cap of $3.6 billion and total debt/equity ratio of 1.35. NRG has an estimated growth rate of -86.08% for this year and 11.7% for next five years. Pickens' initiated a $5 million position in NRG during the first quarter.

Valero Energy is an independent petroleum refining and marketing company. Shares of VLO recently traded at $21.75 with a trailing price to earnings of 7.94 and a forward price to earnings of 4.86. VLO has a 2.79% dividend yield and lost 16.75% during the past 12 months. The stock has a market cap of $11.9 billion and total debt/equity ratio of 0.48. VLO has an estimated growth rate of 23.4% for this year and 9.42% for next five years. Pickens' initiated a $5 million position in VLO during the first quarter.

Source: T. Boone Pickens' 5 New Energy Bets