Clearbridge Investments LLC Cuts Position in Midcoast Energy Partners LP (NYSE:MEP)

Clearbridge Investments LLC reduced its stake in shares of Midcoast Energy Partners LP (NYSE:MEP) by 0.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,329,320 shares of the oil and gas producer’s stock after selling 11,984 shares during the period. Clearbridge Investments LLC’s holdings in Midcoast Energy Partners were worth $18,751,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Jacobus Wealth Management Inc. purchased a new stake in Midcoast Energy Partners during the first quarter valued at $105,000. Acrospire Investment Management LLC boosted its stake in Midcoast Energy Partners by 13.5% in the first quarter. Acrospire Investment Management LLC now owns 14,766 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 1,754 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Midcoast Energy Partners during the first quarter valued at about $166,000. KCG Holdings Inc. raised its position in shares of Midcoast Energy Partners by 60.2% in the first quarter. KCG Holdings Inc. now owns 20,668 shares of the oil and gas producer’s stock valued at $166,000 after buying an additional 7,764 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Midcoast Energy Partners during the first quarter valued at about $244,000. Institutional investors own 64.71% of the company’s stock.

Shares of Midcoast Energy Partners LP (MEP) traded down 0.63% on Friday, reaching $7.95. 145,398 shares of the company traded hands. The stock’s 50 day moving average price is $7.95 and its 200-day moving average price is $7.98. Midcoast Energy Partners LP has a one year low of $5.30 and a one year high of $9.42.

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Midcoast Energy Partners Company Profile

Midcoast Energy Partners, L.P. (MEP) is a limited partnership company that is engaged in the natural gas and natural gas liquids (NGL) midstream business. It operates through two segments: Gathering, Processing and Transportation, and Logistics and Marketing. It also provides marketing services of natural gas and NGLs to wholesale customers.

Institutional Ownership by Quarter for Midcoast Energy Partners (NYSE:MEP)

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