Smithbridge Asset Management Inc. DE Buys Shares of 13,650 Sunoco Logistics Partners LP (NYSE:ETP)

Smithbridge Asset Management Inc. DE purchased a new position in Sunoco Logistics Partners LP (NYSE:ETP) during the second quarter, Holdings Channel reports. The fund purchased 13,650 shares of the pipeline company’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETP. Ledyard National Bank boosted its position in Sunoco Logistics Partners by 6.7% in the first quarter. Ledyard National Bank now owns 3,200 shares of the pipeline company’s stock worth $117,000 after buying an additional 200 shares in the last quarter. Adirondack Trust Co. boosted its position in Sunoco Logistics Partners by 0.6% in the first quarter. Adirondack Trust Co. now owns 3,392 shares of the pipeline company’s stock worth $124,000 after buying an additional 19 shares in the last quarter. CENTRAL TRUST Co boosted its position in Sunoco Logistics Partners by 184.2% in the second quarter. CENTRAL TRUST Co now owns 7,383 shares of the pipeline company’s stock worth $151,000 after buying an additional 4,785 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Sunoco Logistics Partners by 7.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,599 shares of the pipeline company’s stock worth $168,000 after buying an additional 300 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Sunoco Logistics Partners by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 9,220 shares of the pipeline company’s stock worth $188,000 after buying an additional 3,073 shares in the last quarter. 66.78% of the stock is owned by institutional investors and hedge funds.

Shares of Sunoco Logistics Partners LP (ETP) traded up 0.49% during mid-day trading on Monday, hitting $20.55. 4,657,986 shares of the stock traded hands. The firm’s market cap is $11.36 billion. Sunoco Logistics Partners LP has a 12-month low of $18.31 and a 12-month high of $31.49. The firm’s 50 day moving average price is $21.30 and its 200 day moving average price is $23.65.

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Several research analysts recently issued reports on the stock. US Capital Advisors reissued an “overweight” rating on shares of Sunoco Logistics Partners in a report on Wednesday, May 24th. Scotiabank reissued a “buy” rating and set a $28.00 target price on shares of Sunoco Logistics Partners in a report on Monday, April 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. Sanford C. Bernstein raised shares of Sunoco Logistics Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 10th. Finally, 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 Monday, June 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $32.94.

In related news, Director Michael K. Grimm purchased 3,023 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $23.19 per share, for a total transaction of $70,103.37. Following the acquisition, the director now directly owns 67,633 shares of the company’s stock, valued at approximately $1,568,409.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was bought at an average price of $20.33 per share, with a total value of $20,330,000.00. Following the acquisition, the chief executive officer now directly owns 1,031,646 shares in the company, valued at $20,973,363.18. The disclosure for this purchase can be found here. Insiders bought a total of 1,015,023 shares of company stock valued at $20,625,483 in the last quarter. Insiders own 3.74% of the company’s stock.

About Sunoco Logistics Partners

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.

Want to see what other hedge funds are holding ETP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunoco Logistics Partners LP (NYSE:ETP).

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

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