Keybank National Association OH lifted its holdings in Sunoco Logistics Partners LP (NYSE:ETP) by 19.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,672 shares of the pipeline company’s stock after buying an additional 16,928 shares during the period. Keybank National Association OH’s holdings in Sunoco Logistics Partners were worth $1,933,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Bristol Advisors LLC grew its holdings in Sunoco Logistics Partners by 56.5% during the 3rd quarter. Bristol Advisors LLC now owns 16,900 shares of the pipeline company’s stock valued at $309,000 after purchasing an additional 6,100 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Sunoco Logistics Partners during the 3rd quarter valued at about $2,616,000. Nwam LLC bought a new position in Sunoco Logistics Partners during the 3rd quarter valued at about $229,000. Legacy Advisors LLC bought a new position in Sunoco Logistics Partners during the 3rd quarter valued at about $361,000. Finally, Wedbush Securities Inc. grew its holdings in Sunoco Logistics Partners by 27.2% during the 3rd quarter. Wedbush Securities Inc. now owns 57,000 shares of the pipeline company’s stock valued at $1,043,000 after purchasing an additional 12,180 shares during the last quarter. Hedge funds and other institutional investors own 58.37% of the company’s stock.
Shares of Sunoco Logistics Partners LP (ETP) opened at $19.40 on Friday. Sunoco Logistics Partners LP has a 52-week low of $18.88 and a 52-week high of $19.76. The firm has a market cap of $19,111.87, a P/E ratio of 24.69 and a beta of 1.01. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.84 and a quick ratio of 0.55.
Sunoco Logistics Partners (NYSE:ETP) last announced its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. Sunoco Logistics Partners had a net margin of 4.97% and a return on equity of 5.88%. The firm had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the prior year, the company earned ($0.49) EPS. The company’s revenue was up 26.1% compared to the same quarter last year. research analysts expect that Sunoco Logistics Partners LP will post 0.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be given a $0.565 dividend. This represents a $2.26 annualized dividend and a dividend yield of 11.65%. 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 is presently 337.31%.
Several brokerages recently commented on ETP. Stifel Nicolaus reiterated a “buy” rating and set a $21.00 price target (down from $24.00) on shares of Sunoco Logistics Partners in a report on Thursday. BMO Capital Markets reiterated a “hold” rating and set a $23.00 price target on shares of Sunoco Logistics Partners in a report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) downgraded shares of Sunoco Logistics Partners from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Tuesday, October 17th. Mizuho set a $26.00 price target on shares of Sunoco Logistics Partners and gave the company a “buy” rating in a report on Sunday, October 15th. Finally, Citigroup Inc. cut their price target on shares of Sunoco Logistics Partners from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.37.
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In other Sunoco Logistics Partners news, CEO Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $18.65 per share, with a total value of $18,650,000.00. Following the transaction, the chief executive officer now owns 2,031,646 shares of the company’s stock, valued at $37,890,197.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.
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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