Sunoco Logistics Partners LP (NYSE:ETP) has been given a $28.00 target price by investment analysts at Scotiabank in a research note issued on Friday. The brokerage currently has a “buy” rating on the pipeline company’s stock. Scotiabank’s price objective would suggest a potential upside of 40.35% from the stock’s current price.

Several other brokerages have also issued reports on ETP. Vetr upgraded shares of Sunoco Logistics Partners from a “hold” rating to a “strong-buy” rating and set a $42.84 price target for the company in a research note on Monday, April 10th. BMO Capital Markets reiterated a “hold” rating and issued a $39.00 price target on shares of Sunoco Logistics Partners in a research note on Monday, April 17th. Royal Bank Of Canada restated a “buy” rating on shares of Sunoco Logistics Partners in a research note on Friday, April 21st. Citigroup Inc. restated a “buy” rating and set a $30.00 price objective on shares of Sunoco Logistics Partners in a research note on Thursday, April 27th. Finally, Robert W. Baird upgraded shares of Sunoco Logistics Partners from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Sunoco Logistics Partners has a consensus rating of “Buy” and a consensus price target of $32.94.

Sunoco Logistics Partners (NYSE ETP) traded down 2.64% during midday trading on Friday, hitting $19.95. 7,298,795 shares of the stock traded hands. The stock’s market capitalization is $11.03 billion. The stock’s 50-day moving average price is $20.27 and its 200-day moving average price is $23.31. Sunoco Logistics Partners has a 52 week low of $18.31 and a 52 week high of $31.49.

ILLEGAL ACTIVITY WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/07/22/sunoco-logistics-partners-etp-buy-rating-reaffirmed-at-scotiabank.html.

In other news, Director Michael K. Grimm purchased 3,023 shares of the stock in a transaction on Wednesday, May 17th. The shares were acquired at an average price of $23.19 per share, with a total value of $70,103.37. Following the completion of the acquisition, the director now directly owns 67,633 shares of the company’s stock, valued at $1,568,409.27. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction on Thursday, July 6th. The shares were purchased at an average cost of $20.33 per share, for a total transaction of $20,330,000.00. Following the acquisition, the chief executive officer now directly owns 1,031,646 shares of the company’s stock, valued at $20,973,363.18. The disclosure for this purchase can be found here. Insiders have acquired 1,015,023 shares of company stock worth $20,625,483 in the last ninety days. Insiders own 0.17% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Regent Investment Management LLC boosted its stake in Sunoco Logistics Partners by 21.3% in the first quarter. Regent Investment Management LLC now owns 30,140 shares of the pipeline company’s stock valued at $1,101,000 after buying an additional 5,300 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in Sunoco Logistics Partners by 3.5% in the first quarter. Hodges Capital Management Inc. now owns 20,957 shares of the pipeline company’s stock valued at $765,000 after buying an additional 718 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in Sunoco Logistics Partners by 5.5% in the first quarter. Capital Investment Advisors LLC now owns 78,566 shares of the pipeline company’s stock valued at $2,869,000 after buying an additional 4,081 shares during the last quarter. Ledyard National Bank boosted its stake in 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. Finally, M Holdings Securities Inc. boosted its stake in Sunoco Logistics Partners by 8.9% in the fourth quarter. M Holdings Securities Inc. now owns 21,080 shares of the pipeline company’s stock valued at $755,000 after buying an additional 1,731 shares during the last quarter. 66.78% of the stock is currently owned by institutional investors and hedge funds.

About Sunoco Logistics Partners

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.

Analyst Recommendations for Sunoco Logistics Partners (NYSE:ETP)

Receive News & Ratings for Sunoco Logistics Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco Logistics Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.