Sunoco Logistics Partners L.P. (SXL) Given Consensus Recommendation of “Hold” by Brokerages
Sunoco Logistics Partners L.P. (NYSE:SXL) has been assigned a consensus rating of “Hold” from the nineteen research firms that are currently covering the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $30.46.
Several brokerages have weighed in on SXL. BMO Capital Markets reissued a “buy” rating and set a $35.00 price objective on shares of Sunoco Logistics Partners L.P. in a research note on Friday, November 11th. Jefferies Group reissued a “hold” rating and set a $30.00 price objective on shares of Sunoco Logistics Partners L.P. in a research note on Sunday, October 16th. Citigroup Inc. cut Sunoco Logistics Partners L.P. to a “neutral” rating and reduced their price objective for the stock from $38.00 to $34.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Mizuho began coverage on Sunoco Logistics Partners L.P. in a research note on Thursday, September 29th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Barclays PLC boosted their price objective on Sunoco Logistics Partners L.P. from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 16th.
Hedge funds have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in Sunoco Logistics Partners L.P. by 8.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,277 shares of the company’s stock worth $494,000 after buying an additional 1,528 shares in the last quarter. Barnett & Company Inc. bought a new stake in Sunoco Logistics Partners L.P. during the first quarter worth $115,000. Fulton Bank N.A. raised its stake in Sunoco Logistics Partners L.P. by 17.1% in the second quarter. Fulton Bank N.A. now owns 13,700 shares of the company’s stock worth $394,000 after buying an additional 2,000 shares in the last quarter. CT Mason raised its stake in Sunoco Logistics Partners L.P. by 401.5% in the second quarter. CT Mason now owns 75,230 shares of the company’s stock worth $2,163,000 after buying an additional 60,230 shares in the last quarter. Finally, Hollencrest Securities LLC bought a new stake in Sunoco Logistics Partners L.P. during the second quarter worth $1,528,000.
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Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) traded up 4.59% on Wednesday, hitting $23.70. The stock had a trading volume of 3,274,177 shares. The company has a 50-day moving average of $26.10 and a 200-day moving average of $28.03. The company has a market cap of $7.86 billion, a P/E ratio of 47.59 and a beta of 0.86. Sunoco Logistics Partners L.P. has a 52-week low of $15.43 and a 52-week high of $31.49.
Sunoco Logistics Partners L.P. (NYSE:SXL) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The business earned $2.19 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Sunoco Logistics Partners L.P.’s revenue was down 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Sunoco Logistics Partners L.P. will post $0.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Wednesday, November 9th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, November 7th. This represents a $2.04 dividend on an annualized basis and a yield of 9.00%. This is a positive change from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.50.
About Sunoco Logistics Partners L.P.
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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