Sunoco Logistics Partners L.P. (NYSE:SXL) Given Consensus Rating of “Hold” by Brokerages
Sunoco Logistics Partners L.P. (NYSE:SXL) has received an average recommendation of “Hold” from the eighteen research firms that are covering the stock. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$33.00.
A number of analysts have recently commented on SXL shares. Morgan Stanley started coverage on Sunoco Logistics Partners L.P. in a report on Monday, August 15th. They issued an “equal weight” rating and a $33.00 price target on the stock. Mitsubishi UFJ Financial Group lowered Sunoco Logistics Partners L.P. from an “overweight” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Thursday, August 4th. Barclays PLC boosted their price target on Sunoco Logistics Partners L.P. from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. Jefferies Group lowered Sunoco Logistics Partners L.P. from a “buy” rating to a “hold” rating and boosted their price target for the company from $29.43 to $31.00 in a report on Wednesday, June 8th. Finally, Citigroup Inc. lowered Sunoco Logistics Partners L.P. to a “neutral” rating and cut their price target for the company from $38.00 to $34.00 in a report on Friday, August 5th. They noted that the move was a valuation call.
Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) traded up 1.97% during mid-day trading on Wednesday, reaching $28.45. The company had a trading volume of 521,858 shares. Sunoco Logistics Partners L.P. has a 12 month low of $15.43 and a 12 month high of $32.89. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 103.45 and a beta of 0.86. The firm’s 50-day moving average is $29.68 and its 200 day moving average is $27.89.
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Sunoco Logistics Partners L.P. (NYSE:SXL) last posted its earnings results on Wednesday, August 3rd. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.22. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.08 billion. The business’s revenue was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, equities research analysts predict that Sunoco Logistics Partners L.P. will post $1.05 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. SevenBridge Financial Group LLC acquired a new position in shares of Sunoco Logistics Partners L.P. during the second quarter worth $100,000. Financial Architects Inc increased its position in shares of Sunoco Logistics Partners L.P. by 0.8% in the second quarter. Financial Architects Inc now owns 3,497 shares of the company’s stock worth $101,000 after buying an additional 28 shares during the period. Barnett & Company Inc. acquired a new position in shares of Sunoco Logistics Partners L.P. during the first quarter worth $115,000. Chicago Partners Investment Group LLC increased its position in shares of Sunoco Logistics Partners L.P. by 1.8% in the second quarter. Chicago Partners Investment Group LLC now owns 4,204 shares of the company’s stock worth $121,000 after buying an additional 73 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Sunoco Logistics Partners L.P. by 27.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,600 shares of the company’s stock worth $132,000 after buying an additional 1,000 shares during the period.
About Sunoco Logistics Partners L.P.
Sunoco Logistics Partners L.P. owns and operates a logistics business. The Company is engaged in the transport, terminalling 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. In addition to logistics services, it also owns acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, refined products and NGLs.
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