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Sunoco Logistics Partners L.P. (SXL) Stock Price Down 8.4% on …

Sunoco Logistics Partners L.P. (SXL) Stock Price Down 8.4% On ...Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) were down 8.4% on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $44.00 to $36.00, AnalystRatings.NET[1] reports. The company traded as low as $15.43 and last traded at $16.38, with a volume of 1,442,911 shares. The stock had previously closed at $17.88.

A number of other analysts have also recently weighed in on the stock. Howard Weil started coverage on shares of Sunoco Logistics Partners L.P. in a report on Monday, October 19th. They set a sector outperform rating and a $42.00 target price for the company. Scotiabank restated a sector outperform rating and set a $42.00 target price on shares of Sunoco Logistics Partners L.P. in a report on Monday, October 19th. Jefferies Group reduced their target price on shares of Sunoco Logistics Partners L.P. to $31.00 in a report on Thursday, January 14th. Deutsche Bank decreased their price objective on shares of Sunoco Logistics Partners L.P. from $44.00 to $36.00 and set a buy rating for the company in a research note on Tuesday, October 20th. Finally, Credit Suisse decreased their price objective on shares of Sunoco Logistics Partners L.P. from $50.00 to $35.00 in a research note on Monday, December 21st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $39.60. Several large investors recently modified their holdings of SXL. ING Groep raised its stake in shares of Sunoco Logistics Partners L.P. by 22.0% in the third quarter. ING Groep now owns 1,255,600 shares of the company s stock worth $36,048,000 after buying an additional 226,462 shares during the period. Jennison Associates increased its position in Sunoco Logistics Partners L.P. by 120.6% in the third quarter. Jennison Associates now owns 130,040 shares of the company s stock worth $3,727,000 after buying an additional 71,104 shares in the last quarter. Spirit of America Management increased its position in Sunoco Logistics Partners L.P. by 49.1% in the fourth quarter. Spirit of America Management now owns 365,400 shares of the company s stock worth $9,392,000 after buying an additional 120,400 shares in the last quarter. Fox Run Management acquired a new position in Sunoco Logistics Partners L.P. during the fourth quarter worth $290,000. Finally, Creative Planning increased its position in Sunoco Logistics Partners L.P. by 11.1% in the fourth quarter. Creative Planning now owns 143,684 shares of the company s stock worth $3,693,000 after buying an additional 14,333 shares in the last quarter. The firm s 50-day moving average price is $23.74 and its 200-day moving average price is $29.99. The firm s market cap is $4.45 billion.

Sunoco Logistics Partners L.P. (NYSE:SXL) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.33 earnings per share for the quarter, hitting the Zacks consensus estimate of $0.33. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $3.56 billion. The company s quarterly revenue was down 51.0% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. Analysts forecast that Sunoco Logistics Partners L.P. will post $1.09 earnings per share for the current fiscal year. 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 (NYSE:SXL[2]). 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. The Company operates through four segments: Crude Oil Pipelines, transport crude oil in the southwest and midwest United States; Crude Oil Acquisition and Marketing, gathers, purchases, markets and sells crude oil in the mid-continent United States; Terminal Facilities, consist of crude oil, refined products and NGL terminals, and Products Pipelines, consist of crude oil, refined products and NGL terminals. document.write( Sunoco Logistics Partners L.P. (SXL) Stock Price Down 8.4% On ... );

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References

  1. ^ AnalystRatings.NET (www.marketbeat.com)
  2. ^ NYSE:SXL (www.marketbeat.com)
  3. ^ MarketBeat.com’s FREE daily email newsletter (zolmax.com)



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