Sunoco Logistics Partners L.P. (SXL) Posts Quarterly Earnings, Beats Expectations By $0.17 EPS
Sunoco Logistics Partners L.P. (NYSE:SXL) issued its quarterly earnings data on Wednesday. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.17, Analyst Ratings News reports. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis.
Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) traded up 0.60% on Wednesday, hitting $44.71. The stock had a trading volume of 354,277 shares. Sunoco Logistics Partners L.P. has a 1-year low of $30.635 and a 1-year high of $47.815. The stock’s 50-day moving average is $45.74 and its 200-day moving average is $43.85. The company has a market cap of $9.297 billion and a price-to-earnings ratio of 31.52.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Wednesday, August 6th. This is a positive change from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.35.
SXL has been the subject of a number of recent research reports. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Sunoco Logistics Partners L.P. in a research note on Monday, June 30th. They now have a $49.00 price target on the stock, down previously from $49.50. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Sunoco Logistics Partners L.P. in a research note on Wednesday, June 25th. They now have a $49.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Sunoco Logistics Partners L.P. in a research note on Friday, May 9th. They now have a $25.00 price target on the stock, up previously from $22.50. Seven equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $28.96.
Sunoco Logistics Partners L.P. owns and operates a logistics business, consisting of a portfolio of complementary pipeline, terminalling, and acquisition and marketing assets which are used to facilitate the purchase and sale of crude oil and refined products.
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