Sunoco Logistics Partners L.P.’s “Neutral” Rating Reaffirmed at Robert W. Baird (SXL)
Sunoco Logistics Partners L.P. (NYSE:SXL)‘s stock had its “neutral” rating reiterated by stock analysts at Robert W. Baird in a report issued on Wednesday. They currently have a $49.00 target price on the stock, up from their previous target price of $44.00. Robert W. Baird’s price objective points to a potential upside of 5.76% from the company’s current price.
Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) traded up 2.29% on Wednesday, hitting $47.39. The stock had a trading volume of 60,475 shares. Sunoco Logistics Partners L.P. has a 52-week low of $30.885 and a 52-week high of $47.815. The stock has a 50-day moving average of $45.80 and a 200-day moving average of $44.09. The company has a market cap of $9.961 billion and a price-to-earnings ratio of 32.95.
Sunoco Logistics Partners L.P. (NYSE:SXL) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.08 earnings per share. Sunoco Logistics Partners L.P.’s revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that Sunoco Logistics Partners L.P. will post $1.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Friday, August 8th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, August 6th. This is a boost from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.35.
SXL has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Sunoco Logistics Partners L.P. in a research note on Friday, August 8th. They now have a $50.00 price target on the stock, up previously from $49.00. Five investment analysts have rated the stock with a hold rating, Sunoco Logistics Partners L.P. currently has a consensus rating of “Hold” and a consensus price target of $33.65.
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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