Sunoco Logistics Partners LP (NYSE:ETP) declared a quarterly dividend on Thursday, October 26th, RTT News reports. Stockholders of record on Tuesday, November 7th will be given a dividend of 0.565 per share by the pipeline company on Tuesday, November 14th. This represents a $2.26 dividend on an annualized basis and a dividend yield of 13.61%. This is an increase from Sunoco Logistics Partners’s previous quarterly dividend of $0.55.

Sunoco Logistics Partners has increased its dividend by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Sunoco Logistics Partners has a payout ratio of 423.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Sunoco Logistics Partners to earn $0.97 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 226.8%.

Sunoco Logistics Partners (NYSE:ETP) traded up 1.28% during trading on Thursday, hitting $16.60. 9,824,859 shares of the stock were exchanged. The stock’s market cap is $18.25 billion. Sunoco Logistics Partners has a 1-year low of $16.06 and a 1-year high of $27.99. The firm’s 50 day moving average price is $18.36 and its 200-day moving average price is $20.37.

Sunoco Logistics Partners (NYSE:ETP) last announced its quarterly earnings data on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.21). Sunoco Logistics Partners had a return on equity of 4.67% and a net margin of 3.57%. The company had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $7.24 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, analysts anticipate that Sunoco Logistics Partners will post $0.58 EPS for the current year.

A number of equities research analysts have recently issued reports on ETP shares. BMO Capital Markets set a $26.00 price objective on Sunoco Logistics Partners and gave the stock a “hold” rating in a research note on Friday, August 18th. ValuEngine cut Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Citigroup Inc dropped their price objective on Sunoco Logistics Partners from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, August 15th. BidaskClub upgraded Sunoco Logistics Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research cut Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sunoco Logistics Partners has a consensus rating of “Buy” and a consensus price target of $27.49.

In other news, CEO Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $18.65 per share, with a total value of $18,650,000.00. Following the acquisition, the chief executive officer now directly owns 2,031,646 shares in the company, valued at approximately $37,890,197.90. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.74% of the company’s stock.

An institutional investor recently raised its position in Sunoco Logistics Partners stock. State Street Corp raised its position in Sunoco Logistics Partners LP (NYSE:ETP) by 57.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,937 shares of the pipeline company’s stock after buying an additional 51,004 shares during the quarter. State Street Corp’s holdings in Sunoco Logistics Partners were worth $2,854,000 at the end of the most recent reporting period. 58.28% of the stock is currently owned by institutional investors and hedge funds.

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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.

Dividend History for Sunoco Logistics Partners (NYSE:ETP)

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