Analysis: Sunoco Logistics Partners LP (NYSE:SXL) Target Change Today
In a note sent to clients and investors by Jefferies & Co on Friday, 18 December, the firm, Sunoco Logistics Partners LP (NYSE:SXL), had their TP downgraded to $32.00. Analusts currently have a solid Buy rating on the stock.
From a total of 16 analysts covering Sunoco Logistics (NYSE:SXL) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $60 while the lowest target price is $34. The mean of all analyst targets is $40.81 with a 88.85% above today’s ($22.24) stock price. Sunoco Logistics was the topic of 11 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. Howard Weil initiated shares on October 19 with “Sector Outperform” rating.
Approximately 1.40M shares of stock traded hands. Sunoco Logistics Partners L.P. (NYSE:SXL) has declined 43.40% since May 15, 2015 and is downtrending. It has underperformed by 39.60% the S&P500.
The overall sentiment of institutions has decreased to 1.01 in Q2 2015. Its down 0.43, from 1.44 in 2015Q2. The ratio worsened, as 35 institutions have sold all the shares of Sunoco Logistics Partners L.P. that they owned while 78 funds have taken shares off the table. 24 funds have purchased shares for the first time while 90 added to their positions. These institutions now hold 141.75 million shares or 7.42% more than the 131.96 million shares they owned in 2015Q2.
The Fund C V Starr & Co Inc currently is holding shares equating to 6.05% of its total portfolio in Sunoco Logistics Partners L.P. representing a total of 40,000 shares. Another fund,Chickasaw Capital Management Llc, is holding a total of 5.08 million shares equating to 5.66% of their holdings. Additionally, Heronetta Management L.P. has a 339,700 share stake in Sunoco Logistics Partners L.P. which represents 5.63% of their total portfolio. The Fund, Center Coast Capital Advisors Lp, based out of Texas, has also built up a stake in the stock, which represents a total of 5.37% of their total portfolio. Finally Samson Capital Management Llc, a fund which is based in the state of Kansas reported a total holdings of 254,696 shares.
Sunoco Logistics Partners L.P. owns and operates a logistics business. The company has a market cap of $6.46 billion. The Firm is engaged in the transport, terminalling and storage of crude oil, refined products and natural gas liquids . It currently has negative earnings. 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.
According to Zacks Investment Research, “Sunoco Logistics Partners L.P. is a limited partnership recently formed by Sunoco, Inc. to acquire, own, and operate a geographically diverse and complementary group of refined product and crude oil pipelines and terminal facilities.”