BMO Capital Markets Reiterates “Buy” Rating for Sunoco Logistics Partners L.P. (SXL)
Sunoco Logistics Partners L.P. (NYSE:SXL)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a note issued to investors on Friday. They currently have a $35.00 price objective on the stock.
Several other research firms also recently commented on SXL. Barclays PLC lifted their price objective on Sunoco Logistics Partners L.P. from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Citigroup Inc. downgraded 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 report on Friday, August 5th. They noted that the move was a valuation call. Morgan Stanley assumed coverage on Sunoco Logistics Partners L.P. in a report on Monday, August 15th. They issued an “equal weight” rating and a $33.00 price objective for the company. Mitsubishi UFJ Financial Group downgraded Sunoco Logistics Partners L.P. from an “overweight” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Thursday, August 4th. Finally, Stephens assumed coverage on Sunoco Logistics Partners L.P. in a report on Thursday, September 29th. They issued an “overweight” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of C$31.50.
Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) opened at 27.46 on Friday. The stock’s 50 day moving average price is $26.89 and its 200 day moving average price is $28.23. The company has a market capitalization of $8.44 billion, a PE ratio of 99.85 and a beta of 0.86. Sunoco Logistics Partners L.P. has a 12 month low of $15.43 and a 12 month high of $31.49.
Sunoco Logistics Partners L.P. (NYSE:SXL) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.04. The firm earned $2.19 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm earned $0.33 EPS. Sunoco Logistics Partners L.P.’s quarterly revenue was down 9.1% on a year-over-year basis. On average, analysts forecast that Sunoco Logistics Partners L.P. will post $0.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Wednesday, November 9th were issued a $0.51 dividend. The ex-dividend date was Monday, November 7th. This is a boost from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 7.43%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. ING Groep NV boosted its position in Sunoco Logistics Partners L.P. by 137.0% in the second quarter. ING Groep NV now owns 6,775,032 shares of the company’s stock worth $194,850,000 after buying an additional 3,916,189 shares in the last quarter. Morgan Stanley boosted its position in Sunoco Logistics Partners L.P. by 88.2% in the third quarter. Morgan Stanley now owns 6,556,653 shares of the company’s stock worth $186,274,000 after buying an additional 3,072,500 shares in the last quarter. Atlantic Trust Group LLC boosted its position in Sunoco Logistics Partners L.P. by 5,980.3% in the second quarter. Atlantic Trust Group LLC now owns 2,175,055 shares of the company’s stock worth $62,532,000 after buying an additional 2,139,283 shares in the last quarter. Bank of Montreal Can acquired a new position in Sunoco Logistics Partners L.P. during the second quarter worth approximately $50,227,000. Finally, Miller Howard Investments Inc. NY acquired a new position in Sunoco Logistics Partners L.P. during the third quarter worth approximately $37,972,000.
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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