Bollard Group LLC increased its position in Sunoco Logistics Partners LP (NYSE:ETP) by 63.7% during the second quarter, Holdings Channel reports. The institutional investor owned 206,649 shares of the pipeline company’s stock after buying an additional 80,448 shares during the period. Bollard Group LLC’s holdings in Sunoco Logistics Partners were worth $4,214,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ETP. Ledyard National Bank increased its stake in Sunoco Logistics Partners by 6.7% in the first quarter. Ledyard National Bank now owns 3,200 shares of the pipeline company’s stock worth $117,000 after buying an additional 200 shares in the last quarter. Adirondack Trust Co. increased its stake in Sunoco Logistics Partners by 0.6% in the first quarter. Adirondack Trust Co. now owns 3,392 shares of the pipeline company’s stock worth $124,000 after buying an additional 19 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Sunoco Logistics Partners by 7.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,599 shares of the pipeline company’s stock worth $168,000 after buying an additional 300 shares in the last quarter. V Wealth Management LLC bought a new stake in Sunoco Logistics Partners during the second quarter worth about $106,000. Finally, Busey Trust CO bought a new stake in Sunoco Logistics Partners during the first quarter worth about $201,000. 66.78% of the stock is owned by institutional investors.
Shares of Sunoco Logistics Partners LP (ETP) traded down 2.15% during trading on Friday, hitting $20.05. 2,367,772 shares of the company traded hands. The company has a 50 day moving average price of $20.27 and a 200 day moving average price of $23.31. Sunoco Logistics Partners LP has a 52 week low of $18.31 and a 52 week high of $31.49. The company’s market capitalization is $11.09 billion.
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A number of research firms have recently issued reports on ETP. Scotiabank set a $28.00 price objective on shares of Sunoco Logistics Partners and gave the stock a “buy” rating in a report on Saturday, May 6th. Stifel Nicolaus dropped their price objective on shares of Sunoco Logistics Partners from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Zacks Investment Research downgraded shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of Sunoco Logistics Partners in a report on Friday, July 14th. Finally, BidaskClub raised shares of Sunoco Logistics Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Sunoco Logistics Partners currently has an average rating of “Buy” and a consensus price target of $32.94.
In related news, Director David K. Skidmore acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was bought at an average price of $18.64 per share, for a total transaction of $186,400.00. Following the acquisition, the director now directly owns 45,245 shares of the company’s stock, valued at approximately $843,366.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David K. Skidmore acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were bought at an average price of $19.49 per share, with a total value of $38,980.00. Following the acquisition, the director now directly owns 45,245 shares in the company, valued at $881,825.05. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,015,023 shares of company stock valued at $20,625,483 in the last quarter. 0.17% of the stock is currently owned by company insiders.
Sunoco Logistics Partners Company Profile
Energy Transfer Partners, L.P., formerly Sunoco Logistics Partners L.P., owns and operates a logistics business. The Company is engaged in the transport, terminaling and storage of crude oil, refined products and natural gas liquids (NGLs). The Company’s segments include Crude Oil, Natural Gas Liquids and Refined Products.
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