Sunoco Logistics Partners LP (ETP) Upgraded by Zacks Investment Research to Buy
Sunoco Logistics Partners LP (NYSE:ETP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $19.00 price objective on the pipeline company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.10% from the company’s current price.
According to Zacks, “Energy Transfer Partners is well poised to grow on the back of its geographically dispersed asset mix. The partnership delivered better than expected Q3 earnings on higher volumes and revenues. ETP is reaping rewards from its major projects including Rover Pipeline, Bakken Pipeline and Permian Express 3 which are expected to strengthen the growth momentum of the partnership in the future. Further, Sunoco’s merger with Energy Transfer has boosted the growth and value of the partnership and is likely to lead to $200 million of cost savings by 2019. Acquisition of PennTex is also expected to provide additional long term opportunities to ETP. We also like ETP's growing cash distribution which witnessed a year-over-year increase of over 40% in the recent quarter. All these factors form the basis of our bullish stance on the prospects of the stock.”
A number of other equities research analysts also recently weighed in on ETP. Stifel Nicolaus restated a “buy” rating and issued a $21.00 target price (down from $24.00) on shares of Sunoco Logistics Partners in a research report on Thursday, November 9th. BMO Capital Markets restated a “hold” rating and issued a $23.00 target price on shares of Sunoco Logistics Partners in a research report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) downgraded Sunoco Logistics Partners from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research report on Tuesday, October 17th. Mizuho set a $26.00 target price on Sunoco Logistics Partners and gave the stock a “buy” rating in a research report on Sunday, October 15th. Finally, Citigroup Inc. cut their target price on Sunoco Logistics Partners from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $26.77.
Sunoco Logistics Partners (ETP) opened at $16.80 on Tuesday. Sunoco Logistics Partners has a fifty-two week low of $16.06 and a fifty-two week high of $27.66. The stock has a market capitalization of $19,111.87, a P/E ratio of 24.69 and a beta of 1.01. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.84 and a quick ratio of 0.61.
Sunoco Logistics Partners (NYSE:ETP) last issued its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Sunoco Logistics Partners had a return on equity of 5.88% and a net margin of 4.97%. The business had revenue of $6.97 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same period in the prior year, the company posted ($0.49) EPS. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. analysts anticipate that Sunoco Logistics Partners will post 0.64 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in ETP. V Wealth Management LLC purchased a new stake in shares of Sunoco Logistics Partners in the second quarter valued at $106,000. Duncker Streett & Co. Inc. lifted its holdings in shares of Sunoco Logistics Partners by 17.9% in the second quarter. Duncker Streett & Co. Inc. now owns 5,175 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 785 shares in the last quarter. Ffcm LLC lifted its holdings in shares of Sunoco Logistics Partners by 433.9% in the second quarter. Ffcm LLC now owns 5,526 shares of the pipeline company’s stock valued at $115,000 after purchasing an additional 4,491 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Sunoco Logistics Partners in the second quarter valued at $119,000. Finally, Oakworth Capital Inc. lifted its holdings in shares of Sunoco Logistics Partners by 121.2% in the second quarter. Oakworth Capital Inc. now owns 5,876 shares of the pipeline company’s stock valued at $120,000 after purchasing an additional 3,219 shares in the last quarter. Institutional investors own 59.30% of the company’s stock.
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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