According to Zacks, “Sunoco Logistics owns low-risk and stable cash flow generating energy infrastructure assets. Despite crude's historic decline, this has enabled the partnership to maintain top-tier growth and distributable cash flow among its peers even in this difficult macro environment. Other positive attributes include its investment grade rating and strong track record for distribution growth. We further believe that Sunoco Logistics' impending acquisition of larger rival Energy Transfer Partners will create several commercial synergies, and result in $200 million worth of annual costs savings by 2019. However, we think that MLP valuations will be largely disconnected from business fundamentals as long as the hoopla over crude prices continue. We are also concerned about the partnership’s tight distribution coverage ratio. As such, we see Sunoco Logistics units performing in line with the broader market.”
Other research analysts also recently issued reports about the stock. Credit Suisse Group upgraded shares of Sunoco Logistics Partners to a buy rating in a research report on Sunday, December 25th. Robert W. Baird restated a neutral rating and set a $31.00 price objective on shares of Sunoco Logistics Partners in a research report on Tuesday, December 6th. Sanford C. Bernstein upgraded shares of Sunoco Logistics Partners from an underperform rating to a market perform rating and set a $26.00 price objective on the stock in a research report on Monday, November 7th. Stifel Nicolaus restated a hold rating and set a $24.00 price objective (down from $29.00) on shares of Sunoco Logistics Partners in a research report on Monday, November 28th. Finally, Mizuho restated a neutral rating on shares of Sunoco Logistics Partners in a research report on Monday, December 26th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $30.37.
Sunoco Logistics Partners (NYSE:SXL) opened at 26.61 on Tuesday. The company has a 50-day moving average of $25.08 and a 200 day moving average of $26.59. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 53.43 and a beta of 1.12. Sunoco Logistics Partners has a 12 month low of $20.20 and a 12 month high of $31.49.
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, February 7th were paid a $0.52 dividend. This is a boost from Sunoco Logistics Partners’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.82%. The ex-dividend date was Friday, February 3rd. Sunoco Logistics Partners’s dividend payout ratio (DPR) is presently 442.55%.
Several institutional investors have recently modified their holdings of SXL. Alps Advisors Inc. boosted its position in shares of Sunoco Logistics Partners by 7.8% in the third quarter. Alps Advisors Inc. now owns 14,614,898 shares of the company’s stock worth $415,209,000 after buying an additional 1,063,328 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Sunoco Logistics Partners by 5.4% in the third quarter. Kayne Anderson Capital Advisors LP now owns 10,723,325 shares of the company’s stock worth $304,635,000 after buying an additional 553,750 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Sunoco Logistics Partners by 6.0% in the second quarter. Chickasaw Capital Management LLC now owns 7,518,454 shares of the company’s stock worth $216,156,000 after buying an additional 423,200 shares during the last quarter. Morgan Stanley boosted its position in shares of Sunoco Logistics Partners by 88.2% in the third quarter. Morgan Stanley now owns 6,556,653 shares of the company’s stock worth $186,274,000 after buying an additional 3,072,500 shares during the last quarter. Finally, Center Coast Capital Advisors LP boosted its position in shares of Sunoco Logistics Partners by 10.0% in the third quarter. Center Coast Capital Advisors LP now owns 5,987,499 shares of the company’s stock worth $170,105,000 after buying an additional 544,474 shares during the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
About Sunoco Logistics Partners
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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