Sunoco Logistics Partners LP (ETP) Position Boosted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of Sunoco Logistics Partners LP (NYSE:ETP) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,100 shares of the pipeline company’s stock after purchasing an additional 6,662 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sunoco Logistics Partners were worth $1,593,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ffcm LLC boosted its stake in shares of Sunoco Logistics Partners by 433.9% during the 2nd 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. purchased a new position in shares of Sunoco Logistics Partners during the 2nd quarter worth about $119,000. Hirtle Callaghan & Co LLC boosted its stake in shares of Sunoco Logistics Partners by 187.7% during the 2nd quarter. Hirtle Callaghan & Co LLC now owns 6,367 shares of the pipeline company’s stock worth $130,000 after purchasing an additional 4,154 shares during the period. Sterling Investment Advisors Ltd. boosted its stake in shares of Sunoco Logistics Partners by 425.7% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 6,813 shares of the pipeline company’s stock worth $139,000 after purchasing an additional 5,517 shares during the period. Finally, Heritage Trust Co boosted its stake in shares of Sunoco Logistics Partners by 245.6% during the 2nd quarter. Heritage Trust Co now owns 7,065 shares of the pipeline company’s stock worth $144,000 after purchasing an additional 5,021 shares during the period. 62.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Sunoco Logistics Partners LP (NYSE ETP) opened at $16.92 on Wednesday. Sunoco Logistics Partners LP has a twelve month low of $15.25 and a twelve month high of $26.73. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.84 and a quick ratio of 0.61. The company has a market cap of $19,192.76, a PE ratio of 24.79 and a beta of 1.00.

Sunoco Logistics Partners (NYSE:ETP) last posted its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.33 EPS for the quarter, beating 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 business had revenue of $6.97 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the previous year, the business posted ($0.49) EPS. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. sell-side analysts expect that Sunoco Logistics Partners LP will post 0.64 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were issued a $0.565 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $2.26 annualized dividend and a dividend yield of 13.36%. This is a positive change from Sunoco Logistics Partners’s previous quarterly dividend of $0.55. Sunoco Logistics Partners’s payout ratio is currently 337.31%.

Several equities research analysts have issued reports on the stock. Goldman Sachs Group cut shares of Sunoco Logistics Partners from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Tuesday, October 17th. BMO Capital Markets set a $26.00 price objective on shares of Sunoco Logistics Partners and gave the company a “hold” rating in a research report on Thursday, October 12th. Robert W. Baird reissued a “buy” rating and issued a $29.00 price objective on shares of Sunoco Logistics Partners in a research report on Tuesday, September 26th. Royal Bank of Canada reissued a “buy” rating and issued a $28.00 price objective on shares of Sunoco Logistics Partners in a research report on Wednesday, September 6th. Finally, BidaskClub cut shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Sunoco Logistics Partners presently has an average rating of “Buy” and a consensus target price of $26.46.

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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.

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

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