Stifel Nicolaus Lowers Sunoco Logistics Partners LP (NYSE:ETP) Price Target to $24.00
Sunoco Logistics Partners LP (NYSE:ETP) had its price objective decreased by equities research analysts at Stifel Nicolaus from $25.00 to $24.00 in a research note issued on Thursday. The firm presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 17.36% from the stock’s current price.
ETP has been the topic of several other reports. US Capital Advisors restated an “overweight” rating on shares of Sunoco Logistics Partners in a research note on Wednesday, May 24th. Scotiabank restated a “buy” rating and issued a $28.00 price target on shares of Sunoco Logistics Partners in a research note on Monday, April 3rd. Sanford C. Bernstein upgraded shares of Sunoco Logistics Partners from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 price target on shares of Sunoco Logistics Partners in a research note on Friday, March 17th. Finally, BMO Capital Markets set a $26.00 price target on shares of Sunoco Logistics Partners and gave the company a “hold” rating in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.94.
Shares of Sunoco Logistics Partners (ETP) opened at 20.45 on Thursday. Sunoco Logistics Partners has a 12 month low of $18.31 and a 12 month high of $31.49. The firm’s market capitalization is $11.31 billion. The stock’s 50 day moving average is $21.30 and its 200 day moving average is $23.65.
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In related news, CEO Kelcy L. Warren purchased 1,000,000 shares of Sunoco Logistics Partners stock in a transaction dated Thursday, July 6th. The shares were bought at an average cost of $20.33 per share, for a total transaction of $20,330,000.00. Following the purchase, the chief executive officer now owns 1,031,646 shares in the company, valued at approximately $20,973,363.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael K. Grimm purchased 3,023 shares of Sunoco Logistics Partners stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $23.19 per share, for a total transaction of $70,103.37. Following the completion of the purchase, the director now owns 67,633 shares in the company, valued at approximately $1,568,409.27. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,015,023 shares of company stock worth $20,625,483. 3.74% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of ETP. Ledyard National Bank increased its stake in Sunoco Logistics Partners by 6.7% in the first quarter. Ledyard National Bank now owns 3,200 shares of the pipeline company’s stock worth $117,000 after buying an additional 200 shares during the last quarter. Adirondack Trust Co. increased its stake in Sunoco Logistics Partners by 0.6% in the first quarter. Adirondack Trust Co. now owns 3,392 shares of the pipeline company’s stock worth $124,000 after buying an additional 19 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Sunoco Logistics Partners by 7.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,599 shares of the pipeline company’s stock worth $168,000 after buying an additional 300 shares during the last quarter. Busey Trust CO bought a new stake in Sunoco Logistics Partners during the first quarter worth $201,000. Finally, Papp L Roy & Associates bought a new stake in Sunoco Logistics Partners during the first quarter worth $210,000. Institutional investors own 66.78% 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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