Jefferies Group Analysts Lift Earnings Estimates for Sunoco Logistics Partners L.P. (SXL)

Sunoco Logistics Partners L.P. (NYSE:SXL) – Analysts at Jefferies Group lifted their Q3 2016 earnings per share (EPS) estimates for Sunoco Logistics Partners L.P. in a research note issued to investors on Thursday. Jefferies Group analyst C. Sighinolfi now expects that the brokerage will earn $0.12 per share for the quarter, up from their prior forecast of $0.05. Jefferies Group has a “Hold” rating and a $30.00 price objective on the stock. Jefferies Group also issued estimates for Sunoco Logistics Partners L.P.’s FY2017 earnings at $1.12 EPS.

Other equities research analysts have also recently issued research reports about the stock. Mizuho assumed coverage on shares of Sunoco Logistics Partners L.P. in a research report on Thursday, September 29th. They set a “neutral” rating and a $30.00 price target for the company. 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. Morgan Stanley assumed coverage on shares of Sunoco Logistics Partners L.P. in a research report on Monday, August 15th. They set an “equal weight” rating and a $33.00 price target for the company. Wolfe Research assumed coverage on shares of Sunoco Logistics Partners L.P. in a research report on Friday, October 7th. They set a “sell” rating and a $26.00 price target for the company. Finally, TheStreet cut shares of Sunoco Logistics Partners L.P. from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of C$32.50.

Earnings History and Estimates for Sunoco Logistics Partners L.P. (NYSE:SXL)

Sunoco Logistics Partners L.P. (NYSE:SXL) opened at 26.60 on Monday. The firm has a 50-day moving average of $28.54 and a 200 day moving average of $28.17. Sunoco Logistics Partners L.P. has a 1-year low of $15.43 and a 1-year high of $32.18. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 96.73 and a beta of 0.86.

Sunoco Logistics Partners L.P. (NYSE:SXL) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 EPS.

Hedge funds have recently made changes to their positions in the company. 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 in the last quarter. Atlantic Trust Group LLC raised its stake in shares of Sunoco Logistics Partners L.P. by 5,980.3% in the second quarter. Atlantic Trust Group LLC now owns 2,175,055 shares of the company’s stock worth $62,532,000 after buying an additional 2,139,283 shares in the last quarter. 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 in the last quarter. Finally, Harvest Fund Advisors LLC raised its stake in shares of Sunoco Logistics Partners L.P. by 64.4% in the second quarter. Harvest Fund Advisors LLC now owns 3,402,297 shares of the company’s stock worth $97,816,000 after buying an additional 1,332,662 shares in the last quarter.

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.

5 Day Chart for NYSE:SXL

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