Sunoco Logistics Partners LP (ETP) Position Increased by Northern Trust Corp
Northern Trust Corp boosted its stake in Sunoco Logistics Partners LP (NYSE:ETP) by 25.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,753 shares of the pipeline company’s stock after acquiring an additional 108,441 shares during the period. Northern Trust Corp’s holdings in Sunoco Logistics Partners were worth $10,964,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. V Wealth Management LLC acquired a new stake in shares of Sunoco Logistics Partners during the second quarter worth $106,000. Duncker Streett & Co. Inc. raised its holdings in shares of Sunoco Logistics Partners by 17.9% during the second 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 during the period. Ffcm LLC raised its holdings in shares of Sunoco Logistics Partners by 433.9% during the second quarter. Ffcm LLC now owns 5,526 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 4,491 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of Sunoco Logistics Partners during the second quarter worth $119,000. Finally, Oakworth Capital Inc. raised its holdings in shares of Sunoco Logistics Partners by 121.2% during the second 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 during the period. 58.37% of the stock is currently owned by hedge funds and other institutional investors.
Sunoco Logistics Partners LP (ETP) opened at $17.51 on Monday. The stock has a market cap of $19,286.11, a PE ratio of 35.02 and a beta of 1.01. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.55. Sunoco Logistics Partners LP has a 12-month low of $16.06 and a 12-month high of $27.99.
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 Zacks’ consensus estimate of $0.17 by ($0.21). The company had revenue of $6.58 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. equities analysts forecast that Sunoco Logistics Partners LP will post 0.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be given a $0.565 dividend. This represents a $2.26 dividend on an annualized basis and a yield of 12.91%. The ex-dividend date is Monday, November 6th. This is a positive change from Sunoco Logistics Partners’s previous quarterly dividend of $0.55. Sunoco Logistics Partners’s dividend payout ratio is currently 440.00%.
In related news, CEO Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $18.65 per share, for a total transaction of $18,650,000.00. Following the transaction, the chief executive officer now directly owns 2,031,646 shares of the company’s stock, valued at approximately $37,890,197.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.74% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of 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 shares of Sunoco Logistics Partners and gave the stock a “hold” rating in a report on Friday, August 18th. BidaskClub raised shares of Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and set a $26.00 target price on shares of Sunoco Logistics Partners in a report on Friday, July 14th. Finally, Citigroup Inc. dropped their target price on shares of Sunoco Logistics Partners from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Sunoco Logistics Partners currently has a consensus rating of “Buy” and an average 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.
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