Sunoco Logistics Partners LP (ETP) Price Target Cut to $29.00
Sunoco Logistics Partners LP (NYSE:ETP) had its price target decreased by stock analysts at Citigroup Inc. from $30.00 to $29.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the pipeline company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 57.87% from the stock’s current price.
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Sunoco Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Monday. BidaskClub raised Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Scotiabank set a $28.00 price objective on Sunoco Logistics Partners and gave the stock a “buy” rating in a research note on Friday, July 21st. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Sunoco Logistics Partners in a research note on Friday, July 14th. Finally, Stifel Nicolaus dropped their target price on Sunoco Logistics Partners from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $31.05.
Sunoco Logistics Partners (NYSE ETP) opened at 18.37 on Tuesday. The company’s market capitalization is $20.07 billion. The company’s 50-day moving average price is $20.16 and its 200 day moving average price is $22.70. Sunoco Logistics Partners has a 52 week low of $18.18 and a 52 week high of $31.49.
Sunoco Logistics Partners (NYSE:ETP) last posted its quarterly earnings data on Tuesday, August 8th. The pipeline company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by $0.21. The business had revenue of $6.58 billion during the quarter, compared to analyst estimates of $7.24 billion. Sunoco Logistics Partners had a return on equity of 4.67% and a net margin of 3.57%. Sunoco Logistics Partners’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. On average, equities research analysts anticipate that Sunoco Logistics Partners will post $0.39 EPS for the current year.
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In other Sunoco Logistics Partners news, CEO Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was purchased at an average cost of $20.33 per share, with a total value of $20,330,000.00. Following the completion of the purchase, 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 this hyperlink. Also, Director David K. Skidmore bought 2,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was acquired at an average cost of $19.49 per share, with a total value of $38,980.00. Following the completion of the purchase, 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. Insiders purchased 2,012,000 shares of company stock valued at $39,205,380 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ETP. Alps Advisors Inc. boosted its position in Sunoco Logistics Partners by 57.9% in the second quarter. Alps Advisors Inc. now owns 47,476,301 shares of the pipeline company’s stock worth $968,042,000 after buying an additional 17,412,412 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in Sunoco Logistics Partners by 154.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 43,337,625 shares of the pipeline company’s stock worth $883,654,000 after buying an additional 26,293,140 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Sunoco Logistics Partners by 97.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 41,329,104 shares of the pipeline company’s stock worth $842,685,000 after buying an additional 20,414,761 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Sunoco Logistics Partners by 95.5% in the second quarter. JPMorgan Chase & Co. now owns 23,504,853 shares of the pipeline company’s stock worth $479,265,000 after buying an additional 11,483,706 shares during the last quarter. Finally, Atlantic Trust Group LLC boosted its position in Sunoco Logistics Partners by 46.3% in the second quarter. Atlantic Trust Group LLC now owns 17,872,172 shares of the pipeline company’s stock worth $364,413,000 after buying an additional 5,657,463 shares during the last quarter. 66.78% of the stock is owned by hedge funds and other institutional investors.
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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