Beach Investment Counsel Inc. PA Has $682,000 Stake in Sunoco Logistics Partners LP (ETP)

Beach Investment Counsel Inc. PA lifted its stake in Sunoco Logistics Partners LP (NYSE:ETP) by 103.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,270 shares of the pipeline company’s stock after buying an additional 18,970 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Sunoco Logistics Partners were worth $682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mosaic Family Wealth LLC increased its holdings in shares of Sunoco Logistics Partners by 20.1% in the third quarter. Mosaic Family Wealth LLC now owns 41,090 shares of the pipeline company’s stock worth $752,000 after buying an additional 6,874 shares during the period. 1ST Source Bank purchased a new position in shares of Sunoco Logistics Partners in the third quarter worth about $910,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Sunoco Logistics Partners by 1.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 843,490 shares of the pipeline company’s stock worth $15,428,000 after buying an additional 15,940 shares during the period. Oslo Asset Management AS purchased a new position in shares of Sunoco Logistics Partners in the third quarter worth about $17,360,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in shares of Sunoco Logistics Partners by 0.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 4,126,539 shares of the pipeline company’s stock worth $75,474,000 after buying an additional 25,000 shares during the period. Hedge funds and other institutional investors own 58.32% of the company’s stock.

In related news, CEO Kelcy L. Warren bought 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price 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 $37,890,197.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.74% of the stock is currently owned by company insiders.

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Sunoco Logistics Partners LP (NYSE:ETP) traded down 0.676% during mid-day trading on Tuesday, reaching $17.183. The company’s stock had a trading volume of 2,410,258 shares. Sunoco Logistics Partners LP has a one year low of $16.06 and a one year high of $27.99. The firm’s 50 day moving average is $18.21 and its 200-day moving average is $20.19. The stock’s market cap is $18.89 billion.

Sunoco Logistics Partners (NYSE:ETP) last announced its quarterly earnings data on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.21). The firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $7.24 billion. Sunoco Logistics Partners had a return on equity of 4.67% and a net margin of 3.57%. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Equities analysts expect that Sunoco Logistics Partners LP will post $0.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th will be given a dividend of $0.565 per share. This represents a $2.26 annualized dividend and a yield of 13.06%. The ex-dividend date is Monday, November 6th. This is a boost from Sunoco Logistics Partners’s previous quarterly dividend of $0.55. Sunoco Logistics Partners’s dividend payout ratio (DPR) is 440.00%.

Several research firms have recently commented on ETP. BMO Capital Markets reiterated a “hold” rating and issued a $23.00 price objective on shares of Sunoco Logistics Partners in a report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) downgraded Sunoco Logistics Partners from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a report on Tuesday, October 17th. Mizuho set a $26.00 price objective on Sunoco Logistics Partners and gave the stock a “buy” rating in a report on Sunday, October 15th. Citigroup Inc. decreased their price objective on Sunoco Logistics Partners from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $29.00 price objective on shares of Sunoco Logistics Partners in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Sunoco Logistics Partners currently has a consensus rating of “Buy” and a consensus price target of $27.49.

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.

Institutional Ownership by Quarter for Sunoco Logistics Partners (NYSE:ETP)

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