Griffin Asset Management Inc. bought a new position in Sunoco Logistics Partners LP (NYSE:ETP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 39,638 shares of the pipeline company’s stock, valued at approximately $808,000.
Other institutional investors have also recently modified their holdings of the company. V Wealth Management LLC purchased a new position in Sunoco Logistics Partners in the second quarter worth about $106,000. Duncker Streett & Co. Inc. raised its holdings in Sunoco Logistics Partners by 17.9% in the second quarter. Duncker Streett & Co. Inc. now owns 5,175 shares of the pipeline company’s stock worth $106,000 after buying an additional 785 shares during the last quarter. Ffcm LLC raised its holdings in Sunoco Logistics Partners by 433.9% in the second quarter. Ffcm LLC now owns 5,526 shares of the pipeline company’s stock worth $115,000 after buying an additional 4,491 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Sunoco Logistics Partners in the second quarter worth about $119,000. Finally, Oakworth Capital Inc. raised its holdings in Sunoco Logistics Partners by 121.2% in the second quarter. Oakworth Capital Inc. now owns 5,876 shares of the pipeline company’s stock worth $120,000 after buying an additional 3,219 shares during the last quarter. 58.49% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on ETP. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 target price on shares of Sunoco Logistics Partners in a report on Wednesday. Goldman Sachs Group, Inc. (The) cut shares of Sunoco Logistics Partners from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a report on Tuesday. Mizuho set a $26.00 price objective on shares of Sunoco Logistics Partners and gave the company a “buy” rating in a report on Sunday, October 15th. Citigroup Inc. decreased their price objective on shares of Sunoco Logistics Partners from $29.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. Finally, Robert W. Baird reissued a “buy” rating and set a $29.00 price objective on shares of Sunoco Logistics Partners in a report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.49.
In other Sunoco Logistics Partners news, CEO Kelcy L. Warren purchased 1,000,000 shares of Sunoco Logistics Partners stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $18.65 per share, with a total value of $18,650,000.00. Following the transaction, the chief executive officer now owns 2,031,646 shares of the company’s stock, valued at approximately $37,890,197.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.
Shares of Sunoco Logistics Partners LP (NYSE ETP) traded down 0.73% during mid-day trading on Friday, reaching $17.70. 658,341 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $18.58 and its 200-day moving average price is $20.60. The company’s market capitalization is $19.46 billion. Sunoco Logistics Partners LP has a one year low of $17.43 and a one year high of $27.99.
Sunoco Logistics Partners (NYSE:ETP) last posted its quarterly earnings results on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.21). Sunoco Logistics Partners had a return on equity of 4.67% and a net margin of 3.57%. The business had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities analysts expect that Sunoco Logistics Partners LP will post $0.55 earnings per share for the current year.
Sunoco Logistics Partners 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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