CNH Partners LLC Raises Position in Sunoco Logistics Partners LP (ETP)
CNH Partners LLC boosted its stake in Sunoco Logistics Partners LP (NYSE:ETP) by 237.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,084 shares of the pipeline company’s stock after buying an additional 39,479 shares during the quarter. CNH Partners LLC’s holdings in Sunoco Logistics Partners were worth $1,144,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ETP. V Wealth Management LLC purchased a new position in Sunoco Logistics Partners in the 2nd quarter valued at about $106,000. Duncker Streett & Co. Inc. lifted its stake in Sunoco Logistics Partners by 17.9% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 5,175 shares of the pipeline company’s stock valued at $106,000 after buying an additional 785 shares in the last quarter. Ffcm LLC lifted its stake in Sunoco Logistics Partners by 433.9% in the 2nd quarter. Ffcm LLC now owns 5,526 shares of the pipeline company’s stock valued at $115,000 after buying an additional 4,491 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Sunoco Logistics Partners in the 2nd quarter valued at about $119,000. Finally, Oakworth Capital Inc. lifted its stake in Sunoco Logistics Partners by 121.2% in the 2nd quarter. Oakworth Capital Inc. now owns 5,876 shares of the pipeline company’s stock valued at $120,000 after buying an additional 3,219 shares in the last quarter. 58.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on ETP. BidaskClub raised shares of Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $26.00 price target on shares of Sunoco Logistics Partners in a research note on Friday, July 14th. Stifel Nicolaus cut their price objective on shares of Sunoco Logistics Partners from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Finally, Scotiabank set a $28.00 price objective on shares of Sunoco Logistics Partners and gave the company a “buy” rating in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $28.83.
In other news, CEO Kelcy L. Warren acquired 1,000,000 shares of Sunoco Logistics Partners stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average price of $18.65 per share, with a total value of $18,650,000.00. Following the completion of the purchase, the chief executive officer now owns 2,031,646 shares of the company’s stock, valued at approximately $37,890,197.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.74% of the company’s stock.
Shares of Sunoco Logistics Partners LP (ETP) traded up 0.22% during mid-day trading on Monday, hitting $18.58. 393,218 shares of the stock were exchanged. The company has a 50-day moving average of $18.61 and a 200 day moving average of $20.96. Sunoco Logistics Partners LP has a one year low of $17.85 and a one year high of $27.99. The stock’s market cap is $20.43 billion.
Sunoco Logistics Partners (NYSE:ETP) last announced its quarterly earnings data on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share (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% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. On average, equities analysts predict that Sunoco Logistics Partners LP will post $0.57 earnings per share for the current year.
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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