WealthTrust Arizona LLC raised its position in Sunoco Logistics Partners LP (NYSE:ETP) by 50.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,950 shares of the pipeline company’s stock after buying an additional 5,650 shares during the period. WealthTrust Arizona LLC’s holdings in Sunoco Logistics Partners were worth $346,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Sunoco Logistics Partners by 51.9% in the second quarter. Bank of Montreal Can now owns 12,476,664 shares of the pipeline company’s stock worth $254,399,000 after buying an additional 4,264,250 shares during the last quarter. Creative Planning increased its stake in Sunoco Logistics Partners by 78.5% in the second quarter. Creative Planning now owns 4,869,468 shares of the pipeline company’s stock worth $99,289,000 after buying an additional 2,140,720 shares during the last quarter. Morgan Stanley increased its stake in Sunoco Logistics Partners by 12.8% in the first quarter. Morgan Stanley now owns 14,761,511 shares of the pipeline company’s stock worth $539,090,000 after buying an additional 1,675,956 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Sunoco Logistics Partners by 12.2% in the first quarter. JPMorgan Chase & Co. now owns 12,021,147 shares of the pipeline company’s stock worth $439,012,000 after buying an additional 1,304,097 shares during the last quarter. Finally, ING Groep NV bought a new stake in Sunoco Logistics Partners during the first quarter worth $45,329,000. 66.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sunoco Logistics Partners LP (ETP) traded up 0.85% during trading on Tuesday, hitting $20.17. 1,125,391 shares of the company were exchanged. The company has a 50 day moving average of $20.16 and a 200-day moving average of $23.24. Sunoco Logistics Partners LP has a 1-year low of $18.31 and a 1-year high of $31.49. The stock’s market capitalization is $11.15 billion.
A number of research firms have recently weighed in on ETP. US Capital Advisors restated an “overweight” rating on shares of Sunoco Logistics Partners in a research note on Wednesday, May 24th. Scotiabank restated a “buy” rating and issued a $28.00 price target on shares of Sunoco Logistics Partners in a research note on Monday, April 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $26.00 target price on shares of Sunoco Logistics Partners in a research report on Friday, July 14th. Sanford C. Bernstein upgraded shares of Sunoco Logistics Partners from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 10th. Finally, BMO Capital Markets set a $26.00 target price on shares of Sunoco Logistics Partners and gave the stock a “hold” rating in a research report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sunoco Logistics Partners presently has a consensus rating of “Buy” and a consensus price target of $32.94.
In other news, CEO Kelcy L. Warren bought 1,000,000 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were acquired at an average cost of $20.33 per share, with a total value of $20,330,000.00. Following the completion of the transaction, the chief executive officer now owns 1,031,646 shares of the company’s stock, valued at approximately $20,973,363.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael K. Grimm bought 3,023 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $23.19 per share, for a total transaction of $70,103.37. Following the completion of the transaction, the director now directly owns 67,633 shares of the company’s stock, valued at approximately $1,568,409.27. The disclosure for this purchase can be found here. Insiders have purchased 1,015,023 shares of company stock worth $20,625,483 over the last ninety days. 3.74% of the stock is currently owned by insiders.
About Sunoco Logistics Partners
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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