WealthTrust Arizona LLC increased its position in shares of Sunoco Logistics Partners LP (NYSE:ETP) by 50.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.
Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can raised 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 period. Creative Planning raised 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 period. Morgan Stanley raised 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 period. JPMorgan Chase & Co. raised 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 period. 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 owned by hedge funds and other institutional investors.
Shares of Sunoco Logistics Partners LP (ETP) traded down 1.61% during trading on Friday, reaching $19.51. The company’s stock had a trading volume of 5,298,078 shares. The company has a 50-day moving average price of $20.22 and a 200-day moving average price of $22.86. Sunoco Logistics Partners LP has a one year low of $18.31 and a one year high of $31.49. The stock’s market cap is $21.32 billion.
Sunoco Logistics Partners (NYSE:ETP) last issued its earnings results on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.21. Sunoco Logistics Partners had a return on equity of 9.69% and a net margin of 3.57%. The firm had revenue of $6.58 billion during the quarter, compared to analysts’ expectations of $7.24 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. Sunoco Logistics Partners’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts forecast that Sunoco Logistics Partners LP will post $0.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 11.28%. This is a boost 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 currently 440.00%.
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ETP has been the subject of a number of analyst reports. BMO Capital Markets reissued a “hold” rating and set a $39.00 price objective on shares of Sunoco Logistics Partners in a research note on Monday, April 17th. Stifel Nicolaus raised Sunoco Logistics Partners from a “hold” rating to a “buy” rating and increased their price objective for the company from $23.00 to $25.00 in a research note on Tuesday, May 9th. Credit Suisse Group lowered Sunoco Logistics Partners from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $31.00 to $27.00 in a research note on Monday, May 1st. Robert W. Baird raised Sunoco Logistics Partners from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research lowered Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.32.
In other news, Director Michael K. Grimm bought 3,023 shares of the stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $23.19 per share, for a total transaction of $70,103.37. Following the acquisition, the director now owns 67,633 shares of the company’s stock, valued at $1,568,409.27. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David K. Skidmore bought 2,000 shares of the stock in a transaction on Monday, June 26th. The stock was purchased at an average price of $19.49 per share, with a total value of $38,980.00. Following the completion of the acquisition, the director now directly owns 45,245 shares in the company, valued at approximately $881,825.05. 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 quarter. Company insiders own 0.17% of the company’s stock.
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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