Sunoco Logistics Partners LP (NYSE:ETP) announced a quarterly dividend on Thursday, October 26th, RTT News reports. Shareholders of record on Tuesday, November 7th will be paid a dividend of 0.565 per share by the pipeline company on Tuesday, November 14th. This represents a $2.26 annualized dividend and a yield of 12.98%. The ex-dividend date is Monday, November 6th. This is a positive change from Sunoco Logistics Partners’s previous quarterly dividend of $0.55.
Sunoco Logistics Partners has increased its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Sunoco Logistics Partners has a dividend payout ratio of 434.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Sunoco Logistics Partners to earn $0.95 per share next year, which means the company may not be able to cover its $2.26 annual dividend with an expected future payout ratio of 237.9%.
Sunoco Logistics Partners (ETP) opened at 17.41 on Wednesday. Sunoco Logistics Partners has a 1-year low of $16.06 and a 1-year high of $27.99. The company has a 50 day moving average of $18.18 and a 200 day moving average of $20.17. The firm’s market capitalization is $19.14 billion.
Sunoco Logistics Partners (NYSE:ETP) last released its quarterly earnings results on Tuesday, August 8th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.21). The firm had revenue of $6.58 billion for the quarter, compared to analyst estimates of $7.24 billion. Sunoco Logistics Partners had a return on equity of 4.67% and a net margin of 3.57%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Analysts forecast that Sunoco Logistics Partners will post $0.58 EPS for the current year.
In related news, CEO Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average price of $18.65 per share, with a total value of $18,650,000.00. Following the transaction, the chief executive officer now directly owns 2,031,646 shares of the company’s stock, valued at $37,890,197.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.74% of the company’s stock.
A hedge fund recently raised its stake in Sunoco Logistics Partners stock. State Street Corp grew its position in shares of Sunoco Logistics Partners LP (NYSE:ETP) by 57.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,937 shares of the pipeline company’s stock after buying an additional 51,004 shares during the quarter. State Street Corp’s holdings in Sunoco Logistics Partners were worth $2,854,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 58.32% of the company’s stock.
Several equities analysts recently commented on ETP shares. BMO Capital Markets reissued a “hold” rating and set a $23.00 price target 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 price objective for the company. in a research note on Tuesday, October 17th. Mizuho set a $26.00 price objective on Sunoco Logistics Partners and gave the stock a “buy” rating in a research note on Sunday, October 15th. Citigroup Inc. decreased their price target on Sunoco Logistics Partners from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. Finally, Robert W. Baird reissued a “buy” rating and issued a $29.00 price target on shares of Sunoco Logistics Partners in a research note on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.49.
About Sunoco Logistics Partners
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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