Sunoco Logistics Partners L.P. (SXL) Stake Cut by FTB Advisors Inc.

FTB Advisors Inc. reduced its stake in Sunoco Logistics Partners L.P. (NYSE:SXL) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,557 shares of the company’s stock after selling 358 shares during the period. FTB Advisors Inc.’s holdings in Sunoco Logistics Partners L.P. were worth $102,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Financial Architects Inc increased its stake in shares of Sunoco Logistics Partners L.P. by 0.8% in the second quarter. Financial Architects Inc now owns 3,497 shares of the company’s stock valued at $101,000 after buying an additional 28 shares in the last quarter. Barnett & Company Inc. acquired a new stake in shares of Sunoco Logistics Partners L.P. during the first quarter valued at approximately $115,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Sunoco Logistics Partners L.P. by 27.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,600 shares of the company’s stock valued at $132,000 after buying an additional 1,000 shares in the last quarter. Bollard Group LLC increased its stake in shares of Sunoco Logistics Partners L.P. by 1.8% in the second quarter. Bollard Group LLC now owns 5,441 shares of the company’s stock valued at $156,000 after buying an additional 95 shares in the last quarter. Finally, A. D. Beadell Investment Counsel Inc. acquired a new stake in shares of Sunoco Logistics Partners L.P. during the second quarter valued at approximately $201,000.

Institutional Ownership by Quarter for Sunoco Logistics Partners L.P. (NYSE:SXL)

Shares of Sunoco Logistics Partners L.P. (NYSE:SXL) traded up 1.86% during trading on Wednesday, reaching $27.39. The company had a trading volume of 885,806 shares. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 99.60 and a beta of 0.86. Sunoco Logistics Partners L.P. has a 1-year low of $15.43 and a 1-year high of $32.18. The company’s 50 day moving average is $28.35 and its 200-day moving average is $28.26.

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

Several analysts have commented on the company. Citigroup Inc. downgraded Sunoco Logistics Partners L.P. to a “neutral” rating and cut their target price for the company from $38.00 to $34.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Barclays PLC increased 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. Mitsubishi UFJ Financial Group downgraded Sunoco Logistics Partners L.P. from an “overweight” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Thursday, August 4th. Stephens initiated coverage on Sunoco Logistics Partners L.P. in a report on Thursday, September 29th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Jefferies Group reissued a “hold” rating and set a $30.00 price target on shares of Sunoco Logistics Partners L.P. in a report on Sunday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Sunoco Logistics Partners L.P. has a consensus rating of “Hold” and an average price target of C$32.50.

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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