Today: The Sunoco Logistics Partners L.P. (SXL) Coverage Initiated by Analysts at Wolfe Research

The Sunoco Logistics Partners L.P. (SXL) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Sunoco Logistics Partners L.P. (NYSE:SXL) in a research note released on Friday. The firm issued a sell rating and a $26.00 price objective on the stock.

A number of other research analysts also recently weighed in on SXL. Citigroup Inc. downgraded Sunoco Logistics Partners L.P. to a neutral rating and cut their price target for the company from $38.00 to $34.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Sunoco Logistics Partners L.P. from a hold rating to a sell rating in a research report on Tuesday, July 5th. Mizuho initiated coverage on shares of Sunoco Logistics Partners L.P. in a research report on Thursday, September 29th. They issued a neutral rating and a $30.00 price objective for the company. Barclays PLC upped their price objective on shares of Sunoco Logistics Partners L.P. from $33.00 to $36.00 and gave the company an overweight rating in a research report on Tuesday, August 16th. Finally, Mitsubishi UFJ Financial Group cut shares of Sunoco Logistics Partners L.P. from an overweight rating to a neutral rating and set a $34.00 price objective for the company. in a research report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of C$32.56.

Sunoco Logistics Partners L.P. (NYSE:SXL) opened at 26.90 on Friday. Sunoco Logistics Partners L.P. has a one year low of $15.43 and a one year high of $32.18. The stock has a market cap of $8.27 billion, a P/E ratio of 97.82 and a beta of 0.86. The stock’s 50 day moving average price is $28.74 and its 200-day moving average price is $28.16.

Sunoco Logistics Partners L.P. (NYSE:SXL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.22. The company earned $2.27 billion during the quarter, compared to analyst estimates of $2.08 billion. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. On average, analysts predict that Sunoco Logistics Partners L.P. will post $1.02 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in SXL. Goldman Sachs Group Inc. boosted its position in shares of Sunoco Logistics Partners L.P. by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 16,244,587 shares of the company’s stock valued at $407,252,000 after buying an additional 1,730,151 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Sunoco Logistics Partners L.P. by 1.8% in the second quarter. Kayne Anderson Capital Advisors LP now owns 10,169,575 shares of the company’s stock valued at $292,362,000 after buying an additional 180,700 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Sunoco Logistics Partners L.P. by 6.0% in the second quarter. Chickasaw Capital Management LLC now owns 7,518,454 shares of the company’s stock valued at $216,156,000 after buying an additional 423,200 shares during the last quarter. ING Groep NV boosted its position 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 last quarter. Finally, Center Coast Capital Advisors LP boosted its position in shares of Sunoco Logistics Partners L.P. by 18.9% in the second quarter. Center Coast Capital Advisors LP now owns 5,443,025 shares of the company’s stock valued at $156,487,000 after buying an additional 864,494 shares during the last quarter.

About Sunoco Logistics Partners L.P.

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