Traders Buy Shares of Sunoco Logistics Partners LP (ETP) on Weakness
Investors purchased shares of Sunoco Logistics Partners LP (NYSE:ETP) on weakness during trading hours on Tuesday. $63.99 million flowed into the stock on the tick-up and $16.83 million flowed out of the stock on the tick-down, for a money net flow of $47.16 million into the stock. Of all equities tracked, Sunoco Logistics Partners had the 13th highest net in-flow for the day. Sunoco Logistics Partners traded down ($0.15) for the day and closed at $18.62
Several research firms recently issued reports on ETP. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $28.00 price target on shares of Sunoco Logistics Partners in a report on Wednesday, September 6th. ValuEngine cut shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $29.00 price target on shares of Sunoco Logistics Partners in a report on Thursday, August 24th. BMO Capital Markets set a $26.00 price target on shares of Sunoco Logistics Partners and gave the company a “hold” rating in a report on Friday, August 18th. Finally, BidaskClub cut shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Three analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.74.
The stock’s market capitalization is $20.33 billion. The company has a 50-day moving average of $19.06 and a 200-day moving average of $21.47.
Sunoco Logistics Partners (NYSE:ETP) last issued its earnings results on Tuesday, August 8th. The pipeline company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.21). The firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. Equities research analysts expect that Sunoco Logistics Partners LP will post $0.49 EPS for the current fiscal year.
In related news, CEO Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was bought at an average cost of $20.33 per share, with a total value of $20,330,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,031,646 shares in the company, valued at $20,973,363.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David K. Skidmore acquired 2,000 shares of the business’s stock in a transaction on Monday, June 26th. The shares were bought at an average cost of $19.49 per share, with a total value of $38,980.00. Following the completion of the acquisition, the director now owns 45,245 shares of the company’s stock, valued at approximately $881,825.05. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,002,000 shares of company stock valued at $39,018,980. Company insiders own 0.17% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ETP. Waldron LP bought a new position in shares of Sunoco Logistics Partners during the first quarter valued at $409,000. Comerica Bank bought a new position in shares of Sunoco Logistics Partners during the first quarter valued at $242,000. Airain ltd bought a new position in shares of Sunoco Logistics Partners during the first quarter valued at $567,000. Baird Financial Group Inc. lifted its holdings in shares of Sunoco Logistics Partners by 2.4% during the first quarter. Baird Financial Group Inc. now owns 12,772 shares of the pipeline company’s stock valued at $466,000 after acquiring an additional 305 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Sunoco Logistics Partners by 16.1% during the first quarter. Private Advisor Group LLC now owns 60,646 shares of the pipeline company’s stock valued at $2,202,000 after acquiring an additional 8,426 shares during the period. 58.45% of the stock is owned by institutional investors.
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About Sunoco Logistics Partners
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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