Brokerages Anticipate Sunoco Logistics Partners LP (NYSE:ETP) Will Announce Quarterly Sales of $6.33 Billion
Equities research analysts expect Sunoco Logistics Partners LP (NYSE:ETP) to post sales of $6.33 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Sunoco Logistics Partners’ earnings, with the highest sales estimate coming in at $6.42 billion and the lowest estimate coming in at $6.24 billion. Sunoco Logistics Partners posted sales of $2.27 billion in the same quarter last year, which would indicate a positive year over year growth rate of 178.9%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that Sunoco Logistics Partners will report full-year sales of $6.33 billion for the current year, with estimates ranging from $26.82 billion to $29.84 billion. For the next financial year, analysts expect that the firm will report sales of $32.08 billion per share, with estimates ranging from $28.64 billion to $34.56 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Sunoco Logistics Partners.
Several research firms recently weighed in on ETP. US Capital Advisors restated an “overweight” rating on shares of Sunoco Logistics Partners in a research report on Wednesday, May 24th. Scotiabank set a $28.00 price objective on shares of Sunoco Logistics Partners and gave the stock a “buy” rating in a research report on Saturday, May 6th. Jefferies Group LLC restated a “buy” rating and issued a $26.00 price objective on shares of Sunoco Logistics Partners in a research report on Friday, July 14th. Sanford C. Bernstein upgraded shares of Sunoco Logistics Partners from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 10th. Finally, BMO Capital Markets set a $26.00 price objective on shares of Sunoco Logistics Partners and gave the stock a “hold” rating in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Sunoco Logistics Partners currently has an average rating of “Buy” and a consensus price target of $32.89.
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Sunoco Logistics Partners (ETP) traded down 1.18% during midday trading on Tuesday, hitting $20.17. 6,468,553 shares of the stock were exchanged. The company’s 50 day moving average is $20.04 and its 200 day moving average is $23.07. The company’s market capitalization is $11.15 billion. Sunoco Logistics Partners has a 1-year low of $18.31 and a 1-year high of $31.49.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.91%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a positive change from Sunoco Logistics Partners’s previous quarterly dividend of $0.54. Sunoco Logistics Partners’s dividend payout ratio is 250.00%.
In related news, Director David K. Skidmore acquired 10,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average price of $18.64 per share, with a total value of $186,400.00. Following the completion of the purchase, the director now owns 45,245 shares in the company, valued at approximately $843,366.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kelcy L. Warren acquired 1,000,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were bought at an average cost of $20.33 per share, with a total value of $20,330,000.00. Following the purchase, the chief executive officer now owns 1,031,646 shares of the company’s stock, valued at approximately $20,973,363.18. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,015,023 shares of company stock valued at $20,625,483. Insiders own 0.17% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ETP. RiverPoint Capital Management LLC raised its stake in Sunoco Logistics Partners by 63.7% in the second quarter. RiverPoint Capital Management LLC now owns 141,869 shares of the pipeline company’s stock worth $2,893,000 after buying an additional 55,189 shares during the period. Mosaic Family Wealth LLC raised its stake in Sunoco Logistics Partners by 72.0% in the second quarter. Mosaic Family Wealth LLC now owns 34,216 shares of the pipeline company’s stock worth $698,000 after buying an additional 14,327 shares during the period. American Financial Group Inc. raised its stake in Sunoco Logistics Partners by 50.0% in the second quarter. American Financial Group Inc. now owns 540,000 shares of the pipeline company’s stock worth $11,011,000 after buying an additional 180,000 shares during the period. Adell Harriman & Carpenter Inc. raised its stake in Sunoco Logistics Partners by 38.5% in the second quarter. Adell Harriman & Carpenter Inc. now owns 67,572 shares of the pipeline company’s stock worth $1,378,000 after buying an additional 18,768 shares during the period. Finally, Groesbeck Investment Management Corp NJ bought a new stake in Sunoco Logistics Partners during the second quarter worth $352,000. 66.78% of the stock is owned by hedge funds and other institutional investors.
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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