Envestnet Asset Management Inc. lowered its stake in Sunoco Logistics Partners LP (NYSE:ETP) by 64.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,823 shares of the pipeline company’s stock after selling 30,728 shares during the period. Envestnet Asset Management Inc.’s holdings in Sunoco Logistics Partners were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ETP. Beach Investment Management LLC. acquired a new stake in Sunoco Logistics Partners in the 2nd quarter valued at about $373,000. First Trust Advisors LP acquired a new stake in shares of Sunoco Logistics Partners during the 2nd quarter worth about $7,545,000. DekaBank Deutsche Girozentrale raised its position in shares of Sunoco Logistics Partners by 50.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 30,000 shares of the pipeline company’s stock worth $606,000 after acquiring an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Sunoco Logistics Partners by 400.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 981,872 shares of the pipeline company’s stock worth $20,020,000 after acquiring an additional 785,714 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Sunoco Logistics Partners by 27.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 161,104 shares of the pipeline company’s stock worth $3,285,000 after acquiring an additional 34,605 shares in the last quarter. 62.16% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on ETP. Tudor Pickering raised Sunoco Logistics Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, December 13th. ValuEngine raised Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Robert W. Baird set a $28.00 target price on Sunoco Logistics Partners and gave the stock a “buy” rating in a research report on Saturday, November 18th. Morgan Stanley cut their target price on Sunoco Logistics Partners from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Finally, Zacks Investment Research raised Sunoco Logistics Partners from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $26.46.

Sunoco Logistics Partners LP (ETP) opened at $17.66 on Monday. The company has a market capitalization of $20,560.00, a P/E ratio of 29.43 and a beta of 1.00. Sunoco Logistics Partners LP has a 12-month low of $15.25 and a 12-month high of $26.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.61 and a current ratio of 0.84.

Sunoco Logistics Partners (NYSE:ETP) last released its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $6.97 billion for the quarter, compared to analyst estimates of $7.31 billion. Sunoco Logistics Partners had a return on equity of 5.88% and a net margin of 4.97%. The firm’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.49) earnings per share. equities analysts expect that Sunoco Logistics Partners LP will post 0.64 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Sunoco Logistics Partners LP (ETP) Shares Sold by Envestnet Asset Management Inc.” was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another site, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this article can be read at https://theolympiareport.com/2017/12/25/sunoco-logistics-partners-lp-etp-shares-sold-by-envestnet-asset-management-inc.html.

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.

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

Receive News & Ratings for Sunoco Logistics Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco Logistics Partners and related companies with Analyst Ratings Network's FREE daily email newsletter.