The biggest institutional investors in the North American energy pipeline industry did more selling than buying during the second quarter, an S&P Global Market Intelligence analysis of U.S. Securities and Exchange Commission filings shows.
Only Plains All American Pipeline LP and MPLX LP saw increases in institutional ownership out of the top publicly traded energy pipeline companies for the period. Investors acquired 15.7 million shares of Plains and approximately half of a million shares of MPLX. Both master limited partnerships reached structural milestones in the second quarter, with Plains completing its year-and-a-half-long debt reduction plan in April and MPLX announcing its long-awaited merger with Andeavor Logistics LP in May.
Meanwhile, Magellan Midstream Partners LP saw two of its three biggest institutional owners completely unload their stakes in the company. Enterprise Products Partners LP's second-largest institutional shareholder vacated its position as well.
Wells Fargo & Co.'s private banking and investment banking unit was the sector's biggest institutional buyer, snapping up positions in Plains, Kinder Morgan Inc. and Energy Transfer LP.
Capital Research and Management Co. shed 38 million positions in Enbridge Inc., making that firm the biggest seller. Citigroup Inc.'s banking and securities investment arm was the second-largest seller, dumping nearly 26 million units of Energy Transfer.

