Mizuho set a $26.00 price target on Sunoco Logistics Partners LP (NYSE:ETP) in a research report report published on Sunday, October 15th. The brokerage currently has a buy rating on the pipeline company’s stock.
Several other brokerages also recently issued reports on ETP. BidaskClub upgraded Sunoco Logistics Partners from a sell rating to a hold rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Sunoco Logistics Partners from a hold rating to a sell rating in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a buy rating and issued a $26.00 target price on shares of Sunoco Logistics Partners in a research note on Friday, July 14th. Stifel Nicolaus lowered their target price on Sunoco Logistics Partners from $25.00 to $24.00 and set a buy rating for the company in a research note on Thursday, July 13th. Finally, Scotiabank set a $28.00 target price on Sunoco Logistics Partners and gave the company a buy rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Sunoco Logistics Partners presently has an average rating of Buy and an average price target of $27.49.
Sunoco Logistics Partners (ETP) opened at 16.60 on Friday. Sunoco Logistics Partners has a 1-year low of $16.06 and a 1-year high of $27.99. The stock’s 50 day moving average price is $18.36 and its 200 day moving average price is $20.37. The firm’s market cap is $18.25 billion.
Sunoco Logistics Partners (NYSE:ETP) last posted its earnings results on Tuesday, August 8th. The pipeline company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.21). Sunoco Logistics Partners had a return on equity of 4.67% and a net margin of 3.57%. The company had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $7.24 billion. During the same quarter last year, the business earned $0.10 EPS. Sunoco Logistics Partners’s quarterly revenue was up 24.3% compared to the same quarter last year. Equities research analysts predict that Sunoco Logistics Partners will post $0.58 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th will be paid a dividend of $0.565 per share. This is a boost from Sunoco Logistics Partners’s previous quarterly dividend of $0.55. This represents a $2.26 annualized dividend and a yield of 13.61%. Sunoco Logistics Partners’s dividend payout ratio is presently 440.00%.
In other Sunoco Logistics Partners news, CEO Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $18.65 per share, for a total transaction of $18,650,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,031,646 shares of the company’s stock, valued at $37,890,197.90. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ETP. Tortoise Capital Advisors L.L.C. increased its holdings in Sunoco Logistics Partners by 154.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 43,337,625 shares of the pipeline company’s stock valued at $883,654,000 after purchasing an additional 26,293,140 shares during the period. Kayne Anderson Capital Advisors LP increased its holdings in Sunoco Logistics Partners by 97.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 41,329,104 shares of the pipeline company’s stock valued at $842,685,000 after purchasing an additional 20,414,761 shares during the period. Alps Advisors Inc. increased its holdings in Sunoco Logistics Partners by 57.9% in the second quarter. Alps Advisors Inc. now owns 47,476,301 shares of the pipeline company’s stock valued at $968,042,000 after purchasing an additional 17,412,412 shares during the period. JPMorgan Chase & Co. increased its holdings in Sunoco Logistics Partners by 95.5% in the second quarter. JPMorgan Chase & Co. now owns 23,504,853 shares of the pipeline company’s stock valued at $479,265,000 after purchasing an additional 11,483,706 shares during the period. Finally, Center Coast Capital Advisors LP grew its holdings in Sunoco Logistics Partners by 251.1% during the 2nd quarter. Center Coast Capital Advisors LP now owns 14,375,138 shares of the pipeline company’s stock worth $293,109,000 after acquiring an additional 10,280,243 shares during the period. Institutional investors and hedge funds own 58.28% 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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