Sunoco Logistics Partners L.P. (SXL) Sees Strong Trading Volume
Sunoco Logistics Partners L.P. (NYSE:SXL) saw unusually-high trading volume on Tuesday . Approximately 962,517 shares were traded during mid-day 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 recent analyst reports. Zacks Investment Research raised shares of Sunoco Logistics Partners L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Sanford C. Bernstein initiated coverage on shares of Sunoco Logistics Partners L.P. in a research report on Wednesday, May 11th. They issued an “underperform” rating and a $26.00 target price on the stock. Jefferies Group downgraded shares of Sunoco Logistics Partners L.P. from a “buy” rating to a “hold” rating and increased their target price for the company from $29.43 to $31.00 in a research report on Wednesday, June 8th. Citigroup Inc. downgraded shares of Sunoco Logistics Partners L.P. to a “neutral” rating and dropped their target price for the company from $38.00 to $34.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Mitsubishi UFJ Financial Group downgraded shares of Sunoco Logistics Partners L.P. from an “overweight” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of C$33.50.
The company has a 50 day moving average of $29.33 and a 200-day moving average of $27.33. The stock has a market capitalization of $9.19 billion and a P/E ratio of 108.76.
Sunoco Logistics Partners L.P. (NYSE:SXL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.22. The company earned $2.27 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the company earned $0.83 EPS. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. On average, equities analysts expect that Sunoco Logistics Partners L.P. will post $1.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 8th were issued a $0.50 dividend. This is a boost from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 6.69%. The ex-dividend date was Thursday, August 4th.
A hedge fund recently raised its stake in Sunoco Logistics Partners L.P. stock. Jennison Associates LLC increased its stake in Sunoco Logistics Partners L.P. (NYSE:SXL) by 98.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,583 shares of the company’s stock after buying an additional 128,543 shares during the period. Jennison Associates LLC owned approximately 0.10% of Sunoco Logistics Partners L.P. worth $6,646,000 at the end of the most recent reporting period.
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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