Pointe Capital Management LLC Buys 78,576 Shares of Sunoco Logistics Partners LP (ETP)
Pointe Capital Management LLC increased its stake in Sunoco Logistics Partners LP (NYSE:ETP) by 94.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,741 shares of the pipeline company’s stock after buying an additional 78,576 shares during the period. Sunoco Logistics Partners comprises approximately 2.4% of Pointe Capital Management LLC’s portfolio, making the stock its 7th largest position. Pointe Capital Management LLC’s holdings in Sunoco Logistics Partners were worth $3,298,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. V Wealth Management LLC bought a new stake in shares of Sunoco Logistics Partners during the second quarter valued at about $106,000. Duncker Streett & Co. Inc. raised its stake in shares of Sunoco Logistics Partners by 17.9% in the second 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 during the period. Ledyard National Bank raised its stake 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 valued at $117,000 after buying an additional 200 shares during the period. Oakworth Capital Inc. raised its stake in shares of Sunoco Logistics Partners by 121.2% in the second 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 during the period. Finally, Adirondack Trust Co. raised its stake in shares of Sunoco Logistics Partners by 0.6% in the first quarter. Adirondack Trust Co. now owns 3,392 shares of the pipeline company’s stock valued at $124,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 66.78% of the company’s stock.
Sunoco Logistics Partners LP (ETP) opened at 20.03 on Thursday. The stock’s 50 day moving average price is $20.16 and its 200-day moving average price is $22.92. The firm’s market capitalization is $11.08 billion. Sunoco Logistics Partners LP has a 12 month low of $18.31 and a 12 month high of $31.49.
Sunoco Logistics Partners (NYSE:ETP) last announced 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 company 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 7.27%. The business’s quarterly 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 earnings per share. On average, analysts forecast that Sunoco Logistics Partners LP will post $0.72 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a dividend of $0.55 per share. This is an increase from Sunoco Logistics Partners’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 10.98%. The ex-dividend date of this dividend is Thursday, August 3rd. Sunoco Logistics Partners’s dividend payout ratio (DPR) is presently 440.00%.
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ETP has been the topic of several research analyst reports. Royal Bank Of Canada restated a “buy” rating on shares of Sunoco Logistics Partners in a report on Friday, April 21st. Robert W. Baird upgraded shares of Sunoco Logistics Partners from a “neutral” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Tuesday, May 2nd. Zacks Investment Research lowered shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BMO Capital Markets set a $26.00 price objective on shares of Sunoco Logistics Partners and gave the company a “hold” rating in a report on Monday, June 5th. Finally, Sanford C. Bernstein upgraded shares of Sunoco Logistics Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.32.
In related news, Director David K. Skidmore bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were acquired at an average cost of $18.64 per share, for a total transaction of $186,400.00. Following the acquisition, the director now owns 45,245 shares in the company, valued at approximately $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 company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $23.19 per share, for a total transaction of $70,103.37. Following the completion of the acquisition, 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. Over the last quarter, insiders have purchased 1,015,023 shares of company stock worth $20,625,483. Company insiders own 0.17% of the company’s stock.
Sunoco Logistics Partners Company 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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