Sunoco Logistics Partners LP (ETP) Expected to Post Quarterly Sales of $7.67 Billion
Wall Street analysts predict that Sunoco Logistics Partners LP (NYSE:ETP) will post sales of $7.67 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Sunoco Logistics Partners’ earnings, with the highest sales estimate coming in at $9.22 billion and the lowest estimate coming in at $6.86 billion. Sunoco Logistics Partners posted sales of $2.19 billion in the same quarter last year, which indicates a positive year over year growth rate of 250.2%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Sunoco Logistics Partners will report full-year sales of $7.67 billion for the current financial year, with estimates ranging from $27.42 billion to $32.17 billion. For the next financial year, analysts expect that the company will report sales of $33.20 billion per share, with estimates ranging from $29.19 billion to $36.92 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Sunoco Logistics Partners.
Sunoco Logistics Partners (NYSE:ETP) last posted its quarterly earnings data on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.21). The business had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $7.24 billion. Sunoco Logistics Partners had a net margin of 3.57% and a return on equity of 4.67%. Sunoco Logistics Partners’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS.
A number of brokerages have issued reports on ETP. Goldman Sachs Group, Inc. (The) lowered Sunoco Logistics Partners from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research note on Tuesday, October 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Sunoco Logistics Partners in a research note on Friday, July 14th. Robert W. Baird reiterated a “buy” rating and issued a $29.00 price target on shares of Sunoco Logistics Partners in a research note on Tuesday, September 26th. BMO Capital Markets set a $26.00 price target on Sunoco Logistics Partners and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Scotiabank set a $28.00 price target on Sunoco Logistics Partners and gave the stock a “buy” rating in a research note on Friday, July 21st. 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. The company presently has a consensus rating of “Buy” and an average target price of $27.49.
In other Sunoco Logistics Partners news, CEO Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $18.65 per share, with a total value of $18,650,000.00. Following the acquisition, the chief executive officer now owns 2,031,646 shares in the company, valued at $37,890,197.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in ETP. KCG Holdings Inc. bought a new stake in Sunoco Logistics Partners in the first quarter worth about $386,000. Public Employees Retirement System of Ohio bought a new stake in Sunoco Logistics Partners in the first quarter worth about $855,000. Neville Rodie & Shaw Inc. lifted its stake in Sunoco Logistics Partners by 55.3% in the second quarter. Neville Rodie & Shaw Inc. now owns 20,451 shares of the pipeline company’s stock worth $417,000 after purchasing an additional 7,283 shares during the last quarter. Cordasco Financial Network lifted its stake in Sunoco Logistics Partners by 9,484.0% in the second quarter. Cordasco Financial Network now owns 10,159 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 10,053 shares during the last quarter. Finally, Capital One National Association bought a new stake in Sunoco Logistics Partners in the second quarter worth about $214,000. 58.32% of the stock is owned by hedge funds and other institutional investors.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be issued a $0.565 dividend. This is an increase from Sunoco Logistics Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.26 dividend on an annualized basis and a dividend yield of 12.98%. Sunoco Logistics Partners’s dividend payout ratio (DPR) is presently 440.00%.
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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