Wall Street brokerages predict that Sunoco Logistics Partners LP (NYSE:ETP) will announce earnings of $0.15 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Sunoco Logistics Partners’ earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.30. Sunoco Logistics Partners posted earnings per share of ($0.10) during the same quarter last year, which indicates a positive year-over-year growth rate of 250%. The company is expected to report its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Sunoco Logistics Partners will report full-year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.26 to $1.36. For the next financial year, analysts anticipate that the firm will post earnings of $0.78 per share, with EPS estimates ranging from $0.43 to $1.31. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Sunoco Logistics Partners.
Several research firms have issued reports on ETP. Zacks Investment Research downgraded shares of Sunoco Logistics Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub upgraded shares of Sunoco Logistics Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Deutsche Bank AG decreased their price objective on shares of Sunoco Logistics Partners from $47.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, June 21st. Wells Fargo & Company restated an “outperform” rating and issued a $32.00 price objective (down previously from $32.50) on shares of Sunoco Logistics Partners in a research note on Monday, June 19th. Finally, BMO Capital Markets set a $26.00 price objective on shares of Sunoco Logistics Partners and gave the company a “hold” rating in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Sunoco Logistics Partners has a consensus rating of “Buy” and an average price target of $33.04.
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Shares of Sunoco Logistics Partners (NYSE ETP) traded down 0.99% during trading on Wednesday, reaching $20.00. The company had a trading volume of 4,731,180 shares. The firm has a 50-day moving average of $21.30 and a 200 day moving average of $23.65. The firm’s market capitalization is $11.06 billion. Sunoco Logistics Partners has a 1-year low of $18.31 and a 1-year high of $31.49.
In other news, Director Michael K. Grimm purchased 3,023 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $23.19 per share, with a total value of $70,103.37. Following the completion of the acquisition, the director now directly owns 67,633 shares of the company’s stock, valued at approximately $1,568,409.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were purchased at an average cost of $20.33 per share, with a total value of $20,330,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,031,646 shares of the company’s stock, valued at $20,973,363.18. The disclosure for this purchase can be found here. Insiders have purchased 1,015,023 shares of company stock valued at $20,625,483 over the last three months. 0.17% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital One National Association purchased a new position in Sunoco Logistics Partners during the second quarter valued at about $214,000. Cordasco Financial Network boosted its position 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 valued at $207,000 after buying an additional 10,053 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its position 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 valued at $417,000 after buying an additional 7,283 shares in the last quarter. Grassi Investment Management boosted its position in Sunoco Logistics Partners by 145.9% in the second quarter. Grassi Investment Management now owns 175,788 shares of the pipeline company’s stock valued at $3,584,000 after buying an additional 104,313 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Sunoco Logistics Partners by 2.7% in the first quarter. Clearbridge Investments LLC now owns 8,234,119 shares of the pipeline company’s stock valued at $300,710,000 after buying an additional 216,490 shares in the last quarter. 66.78% of the stock is owned by hedge funds and other institutional investors.
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.
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