Sunoco Logistics Partners LP (ETP) Posts Earnings Results, Misses Estimates By $0.21 EPS
Sunoco Logistics Partners LP (NYSE:ETP) announced its earnings results on Tuesday. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.21, Briefing.com reports. Sunoco Logistics Partners had a net margin of 4.67% and a return on equity of 6.02%. The business had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same quarter last year, the business earned $0.10 EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis.
Sunoco Logistics Partners (NYSE:ETP) opened at 19.33 on Wednesday. Sunoco Logistics Partners has a one year low of $18.31 and a one year high of $31.49. The company’s 50-day moving average price is $20.11 and its 200-day moving average price is $23.02. The stock’s market capitalization is $10.69 billion.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 11.38%. This is a boost from Sunoco Logistics Partners’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, August 3rd. Sunoco Logistics Partners’s dividend payout ratio (DPR) is 250.00%.
ETP has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Sunoco Logistics Partners in a research report on Friday, April 21st. Robert W. Baird upgraded Sunoco Logistics Partners from a “neutral” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Tuesday, May 2nd. Zacks Investment Research lowered Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BMO Capital Markets set a $26.00 price objective on Sunoco Logistics Partners and gave the company a “hold” rating in a report on Monday, June 5th. Finally, Sanford C. Bernstein upgraded Sunoco Logistics Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Sunoco Logistics Partners has an average rating of “Buy” and a consensus target price of $32.32.
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In related news, Director David K. Skidmore bought 10,000 shares of the stock in a transaction dated Thursday, June 22nd. The stock was acquired at an average price of $18.64 per share, for a total transaction of $186,400.00. Following the completion of the purchase, the director now owns 45,245 shares in the company, valued at $843,366.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David K. Skidmore bought 2,000 shares of the stock in a transaction dated Monday, June 26th. The stock was bought at an average price of $19.49 per share, with a total value of $38,980.00. Following the purchase, the director now owns 45,245 shares of the company’s stock, valued at approximately $881,825.05. The disclosure for this purchase can be found here. Insiders have acquired 1,015,023 shares of company stock valued at $20,625,483 over the last 90 days. 3.74% of the stock is currently owned by insiders.
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.
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