Sunoco Logistics Partners L.P. Given “Neutral” Rating at Credit Suisse (SXL)
Sunoco Logistics Partners L.P. (NYSE:SXL)‘s stock had its “neutral” rating restated by equities research analysts at Credit Suisse in a research note issued to investors on Friday. They currently have a $50.00 price target on the stock, up from their previous price target of $49.00. Credit Suisse’s target price indicates a potential upside of 10.13% from the stock’s previous close.
Sunoco Logistics Partners L.P. (NYSE:SXL) traded up 1.26% on Friday, hitting $45.97. 186,656 shares of the company’s stock traded hands. Sunoco Logistics Partners L.P. has a one year low of $30.885 and a one year high of $47.815. The stock has a 50-day moving average of $45.7 and a 200-day moving average of $43.86. The company has a market cap of $9.559 billion and a price-to-earnings ratio of 32.29. Sunoco Logistics Partners L.P. also was the recipient of unusually large options trading activity on Thursday. Investors bought 92 put options on the stock. This represents an increase of 179% compared to the average volume of 33 put options.
Sunoco Logistics Partners L.P. (NYSE:SXL) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.17. 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. Analysts expect that Sunoco Logistics Partners L.P. will post $1.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors 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 3.22%. The ex-dividend date is Wednesday, August 6th. This is an increase from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.35.
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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