C.V. Starr & Co. Inc. Trust increased its stake in shares of Sunoco Logistics Partners LP (NYSE:ETP) by 225.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 650,000 shares of the pipeline company’s stock after buying an additional 450,000 shares during the period. Sunoco Logistics Partners makes up approximately 5.7% of C.V. Starr & Co. Inc. Trust’s holdings, making the stock its 2nd largest position. C.V. Starr & Co. Inc. Trust owned 0.12% of Sunoco Logistics Partners worth $13,254,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ETP. State Street Corp increased its position in shares of Sunoco Logistics Partners by 3.1% in the fourth quarter. State Street Corp now owns 85,913 shares of the pipeline company’s stock valued at $3,076,000 after buying an additional 2,619 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new position in Sunoco Logistics Partners during the fourth quarter valued at about $2,522,000. Raymond James Trust N.A. increased its position in Sunoco Logistics Partners by 1.1% in the first quarter. Raymond James Trust N.A. now owns 10,086 shares of the pipeline company’s stock valued at $369,000 after buying an additional 108 shares in the last quarter. Creative Planning increased its position in Sunoco Logistics Partners by 11.4% in the first quarter. Creative Planning now owns 2,728,748 shares of the pipeline company’s stock valued at $99,654,000 after buying an additional 279,268 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. increased its position in Sunoco Logistics Partners by 1.0% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 9,311 shares of the pipeline company’s stock valued at $340,000 after buying an additional 94 shares in the last quarter. Institutional investors own 66.78% of the company’s stock.
Shares of Sunoco Logistics Partners LP (NYSE ETP) traded up 0.79% during midday trading on Friday, reaching $20.46. 2,066,683 shares of the company traded hands. The company has a 50-day moving average of $20.05 and a 200 day moving average of $23.16. Sunoco Logistics Partners LP has a 12-month low of $18.31 and a 12-month high of $31.49. The firm’s market capitalization is $11.31 billion.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 10.84%. This is an increase from Sunoco Logistics Partners’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, August 3rd. Sunoco Logistics Partners’s dividend payout ratio is presently 243.18%.
Several research analysts have issued reports on ETP shares. Vetr raised Sunoco Logistics Partners from a “hold” rating to a “strong-buy” rating and set a $42.84 price target on the stock in a research note on Monday, April 10th. US Capital Advisors reissued an “overweight” rating on shares of Sunoco Logistics Partners in a research note on Friday, April 7th. Royal Bank Of Canada reissued a “buy” rating on shares of Sunoco Logistics Partners in a research note on Friday, April 21st. Robert W. Baird raised Sunoco Logistics Partners from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research downgraded Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.94.
In other news, Director David K. Skidmore acquired 2,000 shares of Sunoco Logistics Partners stock in a transaction on Monday, June 26th. The stock was acquired at an average cost of $19.49 per share, with a total value of $38,980.00. Following the transaction, the director now owns 45,245 shares of the company’s stock, valued at approximately $881,825.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kelcy L. Warren acquired 1,000,000 shares of Sunoco Logistics Partners stock in a transaction on Thursday, July 6th. The stock was purchased 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 directly owns 1,031,646 shares in the company, valued at approximately $20,973,363.18. The disclosure for this purchase can be found here. Insiders acquired a total of 1,015,023 shares of company stock valued at $20,625,483 over the last ninety days. 0.17% 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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