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Next week over 700 companies are reporting their second-quarter earnings results - do you have a watch list prepared? For ideas on how to narrow down the list of names, we ran a screen.

We began by screening for stocks due to report their second-quarter earnings results next week for those with strong upward momentum, trading within 5% of their 52-week highs.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform in the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall. More investing ideas on Kapitall Wire.

Do you think hedge funds are calling it right on these names? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. Energy Transfer Equity, L.P. (ETE): Through its direct and indirect investments in the limited partner and general partner interests in Energy Transfer Partners, L.P., engages in midstream, intrastate, and interstate transportation of natural gas, as well as in storage of natural gas in the United States. Market cap at $11.93B, most recent closing price at $42.61. The stock is trading 2.22% below its 52-week high. Earnings to be released on 08/10. Net institutional purchases in the current quarter at 28.8M shares, which represents about 16.32% of the company's float of 176.51M shares.

2. Hudson Pacific Properties, Inc. (HPP): Operates as a vertically integrated real estate company. Market cap at $394.18M, most recent closing price at $17.74. The stock is trading 3.19% below its 52-week high. Earnings to be released on 08/06. Net institutional purchases in the current quarter at 1.8M shares, which represents about 7.64% of the company's float of 23.57M shares.

3. Medivation, Inc. (MDVN): Focuses on the development of small molecule drugs for the treatment of castration-resistant prostate cancer, Alzheimer's disease, and Huntington disease. Market cap at $3.63B, most recent closing price at $99.70. The stock is trading 3.45% below its 52-week high. Earnings to be released on 08/07. Net institutional purchases in the current quarter at 2.1M shares, which represents about 6.63% of the company's float of 31.66M shares.

4. Newcastle Investment Corp. (NCT): Operates as a real estate investment and finance company that invests in and manages a portfolio consisting primarily of real estate securities. Market cap at $918.93M, most recent closing price at $7.40. The stock is trading 0.67% below its 52-week high. Earnings to be released on 08/09. Net institutional purchases in the current quarter at 7.9M shares, which represents about 6.52% of the company's float of 121.18M shares.

5. Weingarten Realty Investors (WRI): Operates as a real estate investment trust (REIT). Market cap at $3.33B, most recent closing price at $26.83. The stock is trading 2.35% below its 52-week high. Earnings to be released on 08/07. Net institutional purchases in the current quarter at 7.2M shares, which represents about 6.47% of the company's float of 111.22M shares.

6. Teekay Offshore Partners LP (TOO): Provides marine transportation, oil production, and storage services to the offshore oil industry. Market cap at $1.99B, most recent closing price at $28.11. The stock is trading 4.90% below its 52-week high. Earnings to be released on 08/06. Net institutional purchases in the current quarter at 2.5M shares, which represents about 6.38% of the company's float of 39.17M shares.

7. Delek US Holdings Inc. (DK): Engages in refining, wholesaling, and marketing petroleum products in the United States. Market cap at $1.15B, most recent closing price at $19.78. The stock is trading 1.55% below its 52-week high. Earnings to be released on 08/07. Net institutional purchases in the current quarter at 742.0K shares, which represents about 5.45% of the company's float of 13.61M shares.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 7 Hedge Fund Stock Picks Trading Near Highs And Reporting Earnings Next Week