Hodges Capital Management Inc. increased its position in Sunoco Logistics Partners LP (NYSE:ETP) by 48.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,008 shares of the pipeline company’s stock after buying an additional 10,051 shares during the period. Hodges Capital Management Inc.’s holdings in Sunoco Logistics Partners were worth $632,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Regent Investment Management LLC increased its position in shares of Sunoco Logistics Partners by 21.3% in the first quarter. Regent Investment Management LLC now owns 30,140 shares of the pipeline company’s stock worth $1,101,000 after buying an additional 5,300 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of Sunoco Logistics Partners by 5.5% in the first quarter. Capital Investment Advisors LLC now owns 78,566 shares of the pipeline company’s stock worth $2,869,000 after buying an additional 4,081 shares in the last quarter. Ledyard National Bank increased its position in shares of Sunoco Logistics Partners by 6.7% in the first quarter. Ledyard National Bank now owns 3,200 shares of the pipeline company’s stock worth $117,000 after buying an additional 200 shares in the last quarter. Waldron LP bought a new position in shares of Sunoco Logistics Partners during the first quarter worth approximately $409,000. Finally, Wexford Capital LP increased its position in shares of Sunoco Logistics Partners by 26.1% in the first quarter. Wexford Capital LP now owns 1,200,589 shares of the pipeline company’s stock worth $43,846,000 after buying an additional 248,297 shares in the last quarter. 66.78% of the stock is owned by institutional investors and hedge funds.

Shares of Sunoco Logistics Partners LP (NYSE:ETP) opened at 20.03 on Thursday. The stock’s market cap is $11.08 billion. Sunoco Logistics Partners LP has a 52 week low of $18.31 and a 52 week high of $31.49. The firm has a 50-day moving average price of $20.16 and a 200-day moving average price of $22.92.

Sunoco Logistics Partners (NYSE:ETP) last issued its earnings results 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 during the quarter, compared to analyst estimates of $7.24 billion. Sunoco Logistics Partners had a return on equity of 7.27% and a net margin of 3.57%. Sunoco Logistics Partners’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. On average, analysts forecast that Sunoco Logistics Partners LP will post $0.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a $0.55 dividend. This is a positive change from Sunoco Logistics Partners’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, August 3rd. This represents a $2.20 annualized dividend and a dividend yield of 10.98%. Sunoco Logistics Partners’s dividend payout ratio (DPR) is presently 440.00%.

TRADEMARK VIOLATION NOTICE: “Hodges Capital Management Inc. Has $632,000 Stake in Sunoco Logistics Partners LP (ETP)” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://www.watchlistnews.com/hodges-capital-management-inc-has-632000-stake-in-sunoco-logistics-partners-lp-etp/1468081.html.

ETP has been the subject of a number of analyst reports. Royal Bank Of Canada reissued a “buy” rating on shares of Sunoco Logistics Partners in a research report on Friday, April 21st. Robert W. Baird raised Sunoco Logistics Partners from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Tuesday, May 2nd. Zacks Investment Research downgraded Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. 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 Monday, June 5th. Finally, Sanford C. Bernstein raised Sunoco Logistics Partners from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.32.

In other news, Director David K. Skidmore bought 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was bought at an average price of $18.64 per share, for a total transaction of $186,400.00. Following the transaction, the director now owns 45,245 shares in the company, valued at $843,366.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael K. Grimm bought 3,023 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $23.19 per share, with a total value of $70,103.37. Following the transaction, the director now owns 67,633 shares in the company, valued at approximately $1,568,409.27. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,015,023 shares of company stock valued at $20,625,483. Insiders own 0.17% of the company’s stock.

About Sunoco Logistics Partners

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.

Want to see what other hedge funds are holding ETP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunoco Logistics Partners LP (NYSE:ETP).

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

Receive News & Ratings for Sunoco Logistics Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco Logistics Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.