Today, Advisors Asset Management Inc. Sold shares of Sunoco Logistics Partners L.P. (SXL)

Today, Advisors Asset Management Inc. Sold shares of Sunoco Logistics Partners L.P. (SXL)
Advisors Asset Management Inc. reduced its stake in shares of Sunoco Logistics Partners L.P. (NYSE:SXL) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,789 shares of the company’s stock after selling 2,509 shares during the period. Advisors Asset Management Inc.’s holdings in Sunoco Logistics Partners L.P. were worth $818,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI raised its stake in shares of Sunoco Logistics Partners L.P. by 70.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 425,000 shares of the company’s stock valued at $12,219,000 after buying an additional 175,000 shares during the period. Harvest Fund Advisors LLC raised its stake in shares of Sunoco Logistics Partners L.P. by 64.4% in the second quarter. Harvest Fund Advisors LLC now owns 3,402,297 shares of the company’s stock valued at $97,816,000 after buying an additional 1,332,662 shares during the period. ING Groep NV raised its stake in shares of Sunoco Logistics Partners L.P. by 137.0% in the second quarter. ING Groep NV now owns 6,775,032 shares of the company’s stock valued at $194,850,000 after buying an additional 3,916,189 shares during the period. Spirit of America Management Corp NY raised its stake in shares of Sunoco Logistics Partners L.P. by 12.9% in the third quarter. Spirit of America Management Corp NY now owns 579,050 shares of the company’s stock valued at $16,451,000 after buying an additional 66,300 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Sunoco Logistics Partners L.P. by 19.7% in the second quarter. M&T Bank Corp now owns 13,043 shares of the company’s stock valued at $375,000 after buying an additional 2,145 shares during the period.

Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) traded down 0.96% during trading on Friday, reaching $23.78. 844,740 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $26.23 and a 200-day moving average price of $28.06. Sunoco Logistics Partners L.P. has a 52 week low of $15.43 and a 52 week high of $31.49. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 47.75 and a beta of 0.86.

Sunoco Logistics Partners L.P. (NYSE:SXL) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts predict that Sunoco Logistics Partners L.P. will post $0.94 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Wednesday, November 9th were paid a dividend of $0.51 per share. The ex-dividend date was Monday, November 7th. This is a boost from Sunoco Logistics Partners L.P.’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.58%.

Several equities analysts have recently weighed in on the stock. Barclays PLC raised their price target on shares of Sunoco Logistics Partners L.P. from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 16th. Citigroup Inc. downgraded shares of Sunoco Logistics Partners L.P. to a “neutral” rating and decreased their price target for the stock from $38.00 to $34.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Morgan Stanley assumed coverage on shares of Sunoco Logistics Partners L.P. in a research note on Monday, August 15th. They issued an “equal weight” rating and a $33.00 price target on the stock. Mitsubishi UFJ Financial Group downgraded shares of Sunoco Logistics Partners L.P. from an “overweight” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Thursday, August 4th. Finally, Stephens assumed coverage on shares of Sunoco Logistics Partners L.P. in a research note on Thursday, September 29th. They issued an “overweight” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.86.

About Sunoco Logistics Partners L.P.

Sunoco Logistics Partners L.P. owns and operates a logistics business. The Company is engaged in the transport, terminalling 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. In addition to logistics services, it also owns acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, refined products and NGLs.

Related posts

Leave a Comment