First Trust Advisors LP grew its position in shares of Sunoco Logistics Partners LP (NYSE:ETP) by 21.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 448,099 shares of the pipeline company’s stock after purchasing an additional 78,051 shares during the quarter. First Trust Advisors LP’s holdings in Sunoco Logistics Partners were worth $8,196,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Sunoco Logistics Partners by 57.9% during the 2nd quarter. Alps Advisors Inc. now owns 47,476,301 shares of the pipeline company’s stock valued at $968,042,000 after purchasing an additional 17,412,412 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of Sunoco Logistics Partners by 154.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 43,337,625 shares of the pipeline company’s stock valued at $883,654,000 after purchasing an additional 26,293,140 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Sunoco Logistics Partners by 97.6% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 41,329,104 shares of the pipeline company’s stock valued at $842,685,000 after purchasing an additional 20,414,761 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Sunoco Logistics Partners by 95.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 23,504,853 shares of the pipeline company’s stock valued at $479,265,000 after purchasing an additional 11,483,706 shares during the last quarter. Finally, Atlantic Trust Group LLC increased its position in shares of Sunoco Logistics Partners by 46.3% during the 2nd quarter. Atlantic Trust Group LLC now owns 17,872,172 shares of the pipeline company’s stock valued at $364,413,000 after purchasing an additional 5,657,463 shares during the last quarter. Hedge funds and other institutional investors own 59.30% of the company’s stock.
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In other news, CEO Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $18.65 per share, for a total transaction of $18,650,000.00. Following the purchase, the chief executive officer now directly owns 2,031,646 shares in the company, valued at approximately $37,890,197.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.74% of the company’s stock.
Shares of Sunoco Logistics Partners LP (ETP) opened at $16.54 on Monday. Sunoco Logistics Partners LP has a fifty-two week low of $18.88 and a fifty-two week high of $19.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.84 and a quick ratio of 0.61. The firm has a market capitalization of $19,110.00, a P/E ratio of 24.69 and a beta of 1.01.
Sunoco Logistics Partners (NYSE:ETP) last released its earnings results on Tuesday, November 7th. The pipeline company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.11. The company had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $7.31 billion. Sunoco Logistics Partners had a return on equity of 5.88% and a net margin of 4.97%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.49) EPS. sell-side analysts forecast that Sunoco Logistics Partners LP will post 0.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be paid a $0.565 dividend. This represents a $2.26 dividend on an annualized basis and a dividend yield of 13.66%. The ex-dividend date of this dividend 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 presently 376.67%.
Several equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $21.00 target price (down from $24.00) on shares of Sunoco Logistics Partners in a report on Thursday. Zacks Investment Research cut Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BMO Capital Markets set a $26.00 target price on Sunoco Logistics Partners and gave the company a “hold” rating in a report on Friday, August 18th. BidaskClub upgraded Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Citigroup Inc. dropped their target price on Sunoco Logistics Partners from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.37.
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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