Morgan Stanley Raises Position in Sunoco Logistics Partners LP (ETP)

Morgan Stanley raised its position in shares of Sunoco Logistics Partners LP (NYSE:ETP) by 12.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,761,511 shares of the pipeline company’s stock after buying an additional 1,675,956 shares during the period. Morgan Stanley owned about 2.68% of Sunoco Logistics Partners worth $539,090,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Regent Investment Management LLC boosted its position in Sunoco Logistics Partners by 21.3% in the first quarter. Regent Investment Management LLC now owns 30,140 shares of the pipeline company’s stock worth $1,101,000 after buying an additional 5,300 shares during the period. GLG Partners LP purchased a new position in Sunoco Logistics Partners during the fourth quarter worth $6,902,000. Hodges Capital Management Inc. boosted its position in Sunoco Logistics Partners by 3.5% in the first quarter. Hodges Capital Management Inc. now owns 20,957 shares of the pipeline company’s stock worth $765,000 after buying an additional 718 shares during the period. Capital Investment Advisors LLC boosted its position in Sunoco Logistics Partners by 5.5% in the first quarter. Capital Investment Advisors LLC now owns 78,566 shares of the pipeline company’s stock worth $2,869,000 after buying an additional 4,081 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Sunoco Logistics Partners by 7.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,584,003 shares of the pipeline company’s stock worth $199,963,000 after buying an additional 384,859 shares during the period. 66.78% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Sunoco Logistics Partners LP (NYSE:ETP) traded up 0.83% on Monday, hitting $19.35. 5,266,969 shares of the stock traded hands. The stock’s market cap is $10.70 billion. Sunoco Logistics Partners LP has a one year low of $18.97 and a one year high of $31.49. The company’s 50 day moving average is $22.25 and its 200 day moving average is $23.90.

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Several analysts have commented on ETP shares. Credit Suisse Group cut shares of Sunoco Logistics Partners from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $31.00 to $27.00 in a research note on Monday, May 1st. Citigroup Inc. reiterated a “buy” rating and set a $30.00 price objective on shares of Sunoco Logistics Partners in a research note on Thursday, April 27th. Wolfe Research reiterated a “market perform” rating on shares of Sunoco Logistics Partners in a research note on Friday, May 12th. Mizuho raised shares of Sunoco Logistics Partners from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, February 27th. Finally, Stifel Nicolaus raised shares of Sunoco Logistics Partners from a “hold” rating to a “buy” rating and increased their target price for the company from $23.00 to $25.00 in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.25.

In other Sunoco Logistics Partners news, Director Michael K. Grimm bought 3,023 shares of the stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $23.19 per share, with a total value of $70,103.37. Following the purchase, the director now directly owns 67,633 shares in the company, valued at approximately $1,568,409.27. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.

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