Todays Report: The Whittier Trust Co. of Nevada Inc. invests in Sunoco Logistics Partners L.P. (SXL) Shares

The Whittier Trust Co. of Nevada Inc. invests in Sunoco Logistics Partners L.P. (SXL) Shares

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Sunoco Logistics Partners L.P. (NYSE:SXL) by 27.8% during the second quarter, Holdings Channel reports. The fund owned 4,600 shares of the company’s stock after buying an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Sunoco Logistics Partners L.P. were worth $132,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SXL. 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 worth $194,850,000 after buying an additional 3,916,189 shares during the period. Bank of Montreal Can acquired a new stake in shares of Sunoco Logistics Partners L.P. during the second quarter worth approximately $50,227,000. Goldman Sachs Group Inc. raised its stake 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 worth $407,252,000 after buying an additional 1,730,151 shares during the period. Center Coast Capital Advisors LP raised its stake 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 worth $156,487,000 after buying an additional 864,494 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Sunoco Logistics Partners L.P. by 152.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 289,091 shares of the company’s stock worth $7,247,000 after buying an additional 174,748 shares during the period.

Sunoco Logistics Partners L.P. (NYSE:SXL) traded down 0.33% during trading on Thursday, reaching $26.81. The company had a trading volume of 874,535 shares. Sunoco Logistics Partners L.P. has a one year low of $15.43 and a one year high of $32.18. The firm’s 50-day moving average price is $28.74 and its 200 day moving average price is $28.16. The firm has a market capitalization of $8.24 billion, a P/E ratio of 97.49 and a beta of 0.86.

Sunoco Logistics Partners L.P. (NYSE:SXL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.22. The firm earned $2.27 billion during the quarter, compared to analysts’ expectations of $2.08 billion. The business’s quarterly revenue was down 29.2% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. Equities analysts forecast that Sunoco Logistics Partners L.P. will post $1.02 earnings per share for the current fiscal year.

A number of analysts recently commented on SXL shares. Zacks Investment Research lowered Sunoco Logistics Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Citigroup Inc. lowered Sunoco Logistics Partners L.P. to a “neutral” rating and dropped their price target for the stock from $38.00 to $34.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group lowered 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 report on Thursday, August 4th. Morgan Stanley started coverage on Sunoco Logistics Partners L.P. in a report on Monday, August 15th. They set an “equal weight” rating and a $33.00 price target on the stock. Finally, Barclays PLC boosted their target price on Sunoco Logistics Partners L.P. from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of C$32.56.

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.

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