Wedbush Securities Inc. lifted its holdings in Sunoco Logistics Partners LP (NYSE:ETP) by 27.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,000 shares of the pipeline company’s stock after purchasing an additional 12,180 shares during the quarter. Wedbush Securities Inc.’s holdings in Sunoco Logistics Partners were worth $1,043,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of ETP. V Wealth Management LLC acquired a new stake in shares of Sunoco Logistics Partners in the 2nd quarter worth $106,000. Duncker Streett & Co. Inc. boosted its position in shares of Sunoco Logistics Partners by 17.9% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 5,175 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 785 shares in the last quarter. Ffcm LLC boosted its position in shares of Sunoco Logistics Partners by 433.9% in the 2nd quarter. Ffcm LLC now owns 5,526 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 4,491 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Sunoco Logistics Partners in the 2nd quarter worth $119,000. Finally, Oakworth Capital Inc. boosted its position in shares of Sunoco Logistics Partners by 121.2% in the 2nd quarter. Oakworth Capital Inc. now owns 5,876 shares of the pipeline company’s stock worth $120,000 after purchasing an additional 3,219 shares in the last quarter. 58.32% of the stock is owned by hedge funds and other institutional investors.
In other Sunoco Logistics Partners news, CEO Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was purchased 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 directly owns 2,031,646 shares in the company, valued at approximately $37,890,197.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.
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A number of analysts have recently weighed in on the company. BidaskClub cut Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Sunoco Logistics Partners in a research report on Friday, July 14th. BMO Capital Markets set a $26.00 price objective on Sunoco Logistics Partners and gave the stock a “hold” rating in a research report on Friday, August 18th. Scotiabank set a $28.00 price objective on Sunoco Logistics Partners and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Zacks Investment Research cut Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.49.
Shares of Sunoco Logistics Partners LP (ETP) traded down $0.15 during trading on Friday, hitting $17.51. The company had a trading volume of 5,469,921 shares, compared to its average volume of 7,980,000. Sunoco Logistics Partners LP has a 1 year low of $16.06 and a 1 year high of $27.99. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 34.92 and a beta of 1.01. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 1.09.
Sunoco Logistics Partners (NYSE:ETP) last announced its earnings results 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). Sunoco Logistics Partners had a net margin of 3.57% and a return on equity of 4.67%. 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 earned $0.10 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. sell-side analysts anticipate that Sunoco Logistics Partners LP will post 0.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.565 per share. The ex-dividend date is Monday, November 6th. This is a positive change from Sunoco Logistics Partners’s previous quarterly dividend of $0.55. This represents a $2.26 annualized dividend and a dividend yield of 12.91%. Sunoco Logistics Partners’s dividend payout ratio (DPR) is currently 500.00%.
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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