Stifel Nicolaus reiterated their buy rating on shares of Sunoco Logistics Partners LP (NYSE:ETP) in a research note released on Thursday, MarketBeat.com reports. They currently have a $21.00 price objective on the pipeline company’s stock, down from their prior price objective of $24.00.
Several other brokerages have also recently issued reports on ETP. BMO Capital Markets set a $26.00 price target on Sunoco Logistics Partners and gave the company a hold rating in a research note on Friday, August 18th. ValuEngine cut Sunoco Logistics Partners from a hold rating to a sell rating in a research note on Friday, September 1st. Citigroup Inc. cut their target price on Sunoco Logistics Partners from $30.00 to $29.00 and set a buy rating for the company in a research note on Tuesday, August 15th. BidaskClub upgraded Sunoco Logistics Partners from a sell rating to a hold rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research cut Sunoco Logistics Partners from a hold rating to a sell rating in a research note on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $27.37.
Shares of Sunoco Logistics Partners (NYSE:ETP) traded up $0.26 during mid-day trading on Thursday, hitting $16.80. The company had a trading volume of 16,627,648 shares, compared to its average volume of 5,184,947. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $19,111.87, a PE ratio of 24.69 and a beta of 1.01. Sunoco Logistics Partners has a fifty-two week low of $16.06 and a fifty-two week high of $27.99.
Sunoco Logistics Partners (NYSE:ETP) last issued its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $7.31 billion. Sunoco Logistics Partners had a return on equity of 5.88% and a net margin of 4.97%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.49) earnings per share. equities research analysts predict that Sunoco Logistics Partners will post 0.64 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be issued a $0.565 dividend. This represents a $2.26 dividend on an annualized basis and a yield of 13.45%. This is an increase from Sunoco Logistics Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, November 6th. Sunoco Logistics Partners’s dividend payout ratio is presently 337.31%.
In related news, CEO Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $18.65 per share, for a total transaction of $18,650,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,031,646 shares of the company’s stock, valued at approximately $37,890,197.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ETP. V Wealth Management LLC acquired a new stake in Sunoco Logistics Partners in the second quarter valued at $106,000. Duncker Streett & Co. Inc. grew its holdings in Sunoco Logistics Partners by 17.9% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 5,175 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 785 shares during the period. Ffcm LLC grew its holdings in Sunoco Logistics Partners by 433.9% during the 2nd quarter. Ffcm LLC now owns 5,526 shares of the pipeline company’s stock worth $115,000 after acquiring an additional 4,491 shares during the period. Fiduciary Trust Co. acquired a new stake in Sunoco Logistics Partners during the 2nd quarter worth about $119,000. Finally, Oakworth Capital Inc. grew its holdings in Sunoco Logistics Partners by 121.2% during the 2nd quarter. Oakworth Capital Inc. now owns 5,876 shares of the pipeline company’s stock worth $120,000 after acquiring an additional 3,219 shares during the period. Institutional investors and hedge funds own 59.30% of the company’s stock.
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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