$6.57 Billion in Sales Expected for Sunoco Logistics Partners LP (NYSE:ETP) This Quarter
Wall Street brokerages expect Sunoco Logistics Partners LP (NYSE:ETP) to announce $6.57 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Sunoco Logistics Partners’ earnings, with the lowest sales estimate coming in at $6.24 billion and the highest estimate coming in at $7.06 billion. Sunoco Logistics Partners reported sales of $2.27 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 189.4%. The business is expected to report its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Sunoco Logistics Partners will report full-year sales of $6.57 billion for the current fiscal year, with estimates ranging from $26.82 billion to $29.84 billion. For the next fiscal year, analysts forecast that the company will post sales of $31.74 billion per share, with estimates ranging from $28.64 billion to $34.56 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Sunoco Logistics Partners.
Several equities research analysts have recently weighed in on the stock. Scotiabank set a $28.00 target price on shares of Sunoco Logistics Partners and gave the company a “buy” rating in a research note on Saturday, May 6th. Stifel Nicolaus raised shares of Sunoco Logistics Partners from a “hold” rating to a “buy” rating and increased their target price for the company from $23.00 to $25.00 in a research note on Tuesday, May 9th. Credit Suisse Group downgraded shares of Sunoco Logistics Partners from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $27.00 in a research note on Monday, May 1st. Wells Fargo & Company reissued an “outperform” rating and issued a $32.00 target price (down previously from $32.50) on shares of Sunoco Logistics Partners in a research note on Monday, June 19th. Finally, BMO Capital Markets set a $26.00 price target on shares of Sunoco Logistics Partners and gave the stock a “hold” rating in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sunoco Logistics Partners presently has a consensus rating of “Buy” and an average target price of $33.04.
Sunoco Logistics Partners (ETP) traded down 1.5701% during mid-day trading on Friday, hitting $20.0108. 1,642,586 shares of the stock traded hands. Sunoco Logistics Partners has a 12 month low of $18.31 and a 12 month high of $31.49. The company’s market cap is $11.07 billion. The company’s 50 day moving average is $21.30 and its 200 day moving average is $23.65.
In related news, CEO Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,031,646 shares of the company’s stock, valued at approximately $20,973,363.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael K. Grimm acquired 3,023 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average cost of $23.19 per share, with a total value of $70,103.37. Following the completion of the transaction, the director now directly owns 67,633 shares in the company, valued at $1,568,409.27. The disclosure for this purchase can be found here. Insiders purchased a total of 1,015,023 shares of company stock valued at $20,625,483 over the last ninety days. 0.17% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Ledyard National Bank raised its position in shares of Sunoco Logistics Partners by 6.7% in the first quarter. Ledyard National Bank now owns 3,200 shares of the pipeline company’s stock valued at $117,000 after buying an additional 200 shares during the last quarter. Adirondack Trust Co. raised its position in Sunoco Logistics Partners by 0.6% in the first quarter. Adirondack Trust Co. now owns 3,392 shares of the pipeline company’s stock worth $124,000 after buying an additional 19 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Sunoco Logistics Partners by 7.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,599 shares of the pipeline company’s stock worth $168,000 after buying an additional 300 shares in the last quarter. Busey Trust CO acquired a new position in Sunoco Logistics Partners during the first quarter worth about $201,000. Finally, Allegis Investment Advisors LLC acquired a new position in Sunoco Logistics Partners during the first quarter worth about $210,000. 66.78% of the stock is owned by hedge funds and other institutional investors.
Sunoco Logistics Partners Company Profile
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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