Sunoco Logistics Partners LP (NYSE:ETP) Cut to “Neutral” at Goldman Sachs Group, Inc. (The)

Sunoco Logistics Partners LP (NYSE:ETP) was downgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, October 17th, MarketBeat Ratings reports. They currently have a $20.00 price target on the pipeline company’s stock. Goldman Sachs Group, Inc. (The)’s target price suggests a potential upside of 20.48% from the company’s previous close.

Several other research firms also recently commented on ETP. BidaskClub raised shares of Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $26.00 price target on shares of Sunoco Logistics Partners in a report on Friday, July 14th. Stifel Nicolaus lowered their price target on shares of Sunoco Logistics Partners from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Finally, Scotiabank set a $28.00 price target on shares of Sunoco Logistics Partners and gave the stock a “buy” rating in a report on Friday, July 21st. Three 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 assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $27.49.

Sunoco Logistics Partners (NYSE ETP) traded up 3.13% during midday trading on Tuesday, hitting $17.12. 3,776,534 shares of the company traded hands. The stock’s market cap is $18.83 billion. Sunoco Logistics Partners has a 12-month low of $16.10 and a 12-month high of $27.99. The stock has a 50 day moving average of $18.36 and a 200 day moving average of $20.37.

Sunoco Logistics Partners (NYSE:ETP) last released its earnings results on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.21). The company had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Sunoco Logistics Partners had a return on equity of 4.67% and a net margin of 3.57%. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Equities research analysts predict that Sunoco Logistics Partners will post $0.58 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Sunoco Logistics Partners LP (NYSE:ETP) Cut to “Neutral” at Goldman Sachs Group, Inc. (The)” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/27/sunoco-logistics-partners-lp-etp-lowered-to-neutral-at-goldman-sachs-group-inc-the.html.

In related news, CEO Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $18.65 per share, with a total value of $18,650,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,031,646 shares in the company, valued at approximately $37,890,197.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. boosted its stake in shares of 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. Tortoise Capital Advisors L.L.C. lifted its stake 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 worth $883,654,000 after acquiring an additional 26,293,140 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake 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 worth $842,685,000 after acquiring an additional 20,414,761 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $479,265,000 after acquiring an additional 11,483,706 shares during the last quarter. Finally, Atlantic Trust Group LLC lifted its stake in Sunoco Logistics Partners by 46.3% in the second quarter. Atlantic Trust Group LLC now owns 17,872,172 shares of the pipeline company’s stock worth $364,413,000 after acquiring an additional 5,657,463 shares during the last quarter. 58.28% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Sunoco Logistics Partners (NYSE:ETP)

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

Leave a Reply