Sunoco Logistics Partners L.P. (SXL) Sees Strong Trading Volume
Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) saw unusually-high trading volume on Tuesday . Approximately 962,517 shares were traded during trading, an increase of 8% from the previous session’s volume of 891,219 shares.The stock last traded at $30.20 and had previously closed at $30.13.
SXL has been the topic of a number of research reports. Morgan Stanley initiated coverage on Sunoco Logistics Partners L.P. in a research report on Monday, August 15th. They set an “equal weight” rating and a $33.00 price objective on the stock. Mitsubishi UFJ Financial Group cut Sunoco Logistics Partners L.P. from an “overweight” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Thursday, August 4th. Barclays PLC upped their price target on Sunoco Logistics Partners L.P. from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, August 16th. Jefferies Group cut Sunoco Logistics Partners L.P. from a “buy” rating to a “hold” rating and upped their price target for the company from $29.43 to $31.00 in a research report on Wednesday, June 8th. Finally, Zacks Investment Research upgraded Sunoco Logistics Partners L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of C$33.50.
The stock has a market cap of $9.04 billion and a price-to-earnings ratio of 106.91. The stock’s 50-day moving average is $29.35 and its 200 day moving average is $27.35.
Sunoco Logistics Partners L.P. (NYSE:SXL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.22. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was down 29.2% on a year-over-year basis. On average, equities research analysts forecast that Sunoco Logistics Partners L.P. will post $1.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 8th were paid a dividend of $0.50 per share. This is a positive change from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.49. The ex-dividend date was Thursday, August 4th. This represents a $2.00 dividend on an annualized basis and a yield of 6.76%.
A hedge fund recently raised its stake in Sunoco Logistics Partners L.P. stock. Jennison Associates LLC increased its position in Sunoco Logistics Partners L.P. (NYSE:SXL) by 98.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,583 shares of the company’s stock after buying an additional 128,543 shares during the period. Jennison Associates LLC owned 0.10% of Sunoco Logistics Partners L.P. worth $6,646,000 at the end of the most recent quarter.
Sunoco Logistics Partners L.P. owns and operates a logistics business. The Company is engaged in the transport, terminalling 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. In addition to logistics services, it also owns acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, refined products and NGLs.
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