Sunoco Logistics Partners LP (ETP) Stake Lifted by Columbia Asset Management

Columbia Asset Management raised its position in Sunoco Logistics Partners LP (NYSE:ETP) by 50.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,288 shares of the pipeline company’s stock after purchasing an additional 3,763 shares during the period. Columbia Asset Management’s holdings in Sunoco Logistics Partners were worth $230,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Concert Wealth Management Inc. lifted its position in shares of Sunoco Logistics Partners by 0.4% in the 1st quarter. Concert Wealth Management Inc. now owns 11,752 shares of the pipeline company’s stock worth $420,000 after purchasing an additional 50 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Sunoco Logistics Partners by 0.4% in the 1st quarter. Stratos Wealth Partners LTD. now owns 24,930 shares of the pipeline company’s stock worth $910,000 after purchasing an additional 91 shares during the period. Fairfield Bush & CO. lifted its position in shares of Sunoco Logistics Partners by 0.3% in the 1st quarter. Fairfield Bush & CO. now owns 50,188 shares of the pipeline company’s stock worth $1,833,000 after purchasing an additional 158 shares during the period. Arcus Capital Partners LLC lifted its position in shares of Sunoco Logistics Partners by 2.7% in the 1st quarter. Arcus Capital Partners LLC now owns 6,274 shares of the pipeline company’s stock worth $229,000 after purchasing an additional 163 shares during the period. Finally, HL Financial Services LLC lifted its position in shares of Sunoco Logistics Partners by 3.1% in the 1st quarter. HL Financial Services LLC now owns 7,447 shares of the pipeline company’s stock worth $272,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 58.46% of the company’s stock.

In other news, Director David K. Skidmore acquired 10,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was acquired at an average price of $18.64 per share, with a total value of $186,400.00. Following the completion of the transaction, the director now owns 45,245 shares of the company’s stock, valued at approximately $843,366.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction on Thursday, July 6th. The shares were purchased at an average cost of $20.33 per share, with a total value of $20,330,000.00. Following the transaction, the chief executive officer now directly owns 1,031,646 shares of the company’s stock, valued at approximately $20,973,363.18. The disclosure for this purchase can be found here. Insiders have acquired 2,012,000 shares of company stock valued at $39,205,380 in the last three months. Insiders own 3.74% of the company’s stock.

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Shares of Sunoco Logistics Partners LP (ETP) traded down 0.11% during mid-day trading on Monday, reaching $18.53. 571,990 shares of the company’s stock were exchanged. The firm’s market capitalization is $20.38 billion. The stock has a 50-day moving average of $19.35 and a 200 day moving average of $21.81. Sunoco Logistics Partners LP has a one year low of $17.85 and a one year high of $31.39.

Sunoco Logistics Partners (NYSE:ETP) last announced its quarterly earnings data on Tuesday, August 8th. The pipeline company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.17 by $0.21. The firm had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Sunoco Logistics Partners had a net margin of 3.57% and a return on equity of 4.67%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, analysts forecast that Sunoco Logistics Partners LP will post $0.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.20 annualized dividend and a yield of 11.86%. This is a positive change from Sunoco Logistics Partners’s previous quarterly dividend of $0.54. Sunoco Logistics Partners’s dividend payout ratio (DPR) is currently 440.00%.

A number of research analysts have recently issued reports on ETP shares. BMO Capital Markets set a $26.00 price target on shares of Sunoco Logistics Partners and gave the stock a “hold” rating in a research report on Friday, August 18th. ValuEngine downgraded shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Citigroup Inc. dropped their price target on shares of Sunoco Logistics Partners from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. BidaskClub upgraded shares of Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $32.00 price target (down previously from $32.50) on shares of Sunoco Logistics Partners in a research report on Monday, June 19th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.74.

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

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