Rating Buzzer: BMO Capital Says Its Time To Downgrade Sunoco Logistics Partners LP (NYSE:SXL)

November 23, 2016 - By olga

Rating Buzzer: BMO Capital Says Its Time To Downgrade Sunoco Logistics Partners LP (NYSE:SXL)

Sunoco Logistics Partners LP (NYSE:SXL) Downgrade

Trading of Sunoco Logistics Partners LP (NYSE:SXL)‘s shares is going to be interesting today. BMO Capital cut the stock from a “Outperform” to a “Market Perform”.

Sunoco Logistics Partners L.P. (NYSE:SXL) Ratings Coverage

Out of 12 analysts covering Sunoco Logistics (NYSE:SXL), 7 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 58% are positive. $50 is the highest target while $23 is the lowest. The $34.18 average target is 45.01% above today’s ($23.57) stock price. Sunoco Logistics has been the topic of 24 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Sunoco Logistics Partners L.P. (NYSE:SXL) earned “Overweight” rating by Stephens on Thursday, September 29. As per Monday, August 10, the company rating was upgraded by Credit Suisse. Barclays Capital maintained the stock with “Overweight” rating in Tuesday, August 16 report. The firm has “Outperform” rating by Wells Fargo given on Monday, August 10. The stock of Sunoco Logistics Partners L.P. (NYSE:SXL) has “Underperform” rating given on Wednesday, May 11 by Bernstein. Bernstein upgraded Sunoco Logistics Partners L.P. (NYSE:SXL) on Tuesday, November 8 to “Mkt Perform” rating. Morgan Stanley reinitiated Sunoco Logistics Partners L.P. (NYSE:SXL) on Monday, August 15 with “Equal-Weight” rating. The stock has “Hold” rating given by Stifel Nicolaus on Thursday, January 28. The company was maintained on Tuesday, March 15 by JP Morgan. The firm earned “Neutral” rating on Friday, September 30 by Mizuho.

About 1.44 million shares traded hands. Sunoco Logistics Partners L.P. (NYSE:SXL) has declined 17.72% since April 21, 2016 and is downtrending. It has underperformed by 23.05% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1.41 in 2016 Q2. Its down 0.08, from 1.49 in 2016Q1. The ratio fall, as 19 funds sold all Sunoco Logistics Partners L.P. shares owned while 66 reduced positions. 35 funds bought stakes while 92 increased positions. They now own 174.45 million shares or 8.76% more from 160.40 million shares in 2016Q1.

Smithbridge Asset Mngmt De last reported 0.25% of its portfolio in the stock. City Hldg accumulated 1,700 shares or 0.02% of the stock. Moreover, Citigroup has 0.05% invested in Sunoco Logistics Partners L.P. (NYSE:SXL) for 1.66 million shares. Neuberger Berman Group Ltd Liability has 0.07% invested in the company for 1.82M shares. The Massachusetts-based Liberty Mutual Group Inc Asset Mngmt Inc has invested 0.24% in Sunoco Logistics Partners L.P. (NYSE:SXL). South State has 9,000 shares for 0.04% of their US portfolio. Gould Asset Limited Liability Corporation Ca has 15,765 shares for 0.24% of their US portfolio. The Japan-based Sumitomo Mitsui Trust has invested 0% in Sunoco Logistics Partners L.P. (NYSE:SXL). Heronetta Management Lp holds 5.53% or 358,400 shares in its portfolio. Ladenburg Thalmann Fincl last reported 19,121 shares in the company. The Texas-based Highland Capital Management Ltd Partnership has invested 0.07% in Sunoco Logistics Partners L.P. (NYSE:SXL). California Public Employees Retirement System accumulated 659,400 shares or 0.03% of the stock. Fifth Third State Bank last reported 0% of its portfolio in the stock. Moreover, Nbw Cap Lc has 0.07% invested in Sunoco Logistics Partners L.P. (NYSE:SXL) for 7,734 shares. Moreover, Advisory has 0.45% invested in Sunoco Logistics Partners L.P. (NYSE:SXL) for 916,470 shares.

Sunoco Logistics Partners L.P. owns and operates a logistics business. The company has a market cap of $7.59 billion. The Firm is engaged in the transport, terminalling and storage of crude oil, refined products and natural gas liquids . It has a 46.95 P/E ratio. The Company’s divisions include Crude Oil, Natural Gas Liquids and Refined Products.

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.”

SXL Company Profile

Sunoco Logistics Partners L.P., incorporated on October 15, 2001, owns and operates a logistics business. The Firm is engaged in the transport, terminalling and storage of crude oil, refined products and natural gas liquids (NGLs). The Company’s divisions 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.

More important recent Sunoco Logistics Partners L.P. (NYSE:SXL) news were published by: Wsj.com which released: “Sunoco Logistics to Buy Energy Transfer Partners” on November 21, 2016, also Businesswire.com published article titled: “Energy Transfer Partners and Sunoco Logistics Partners Denounce Today’s …”, Businesswire.com published: “Energy Transfer Partners and Sunoco Logistics Partners Seek Federal Court …” on November 15, 2016. More interesting news about Sunoco Logistics Partners L.P. (NYSE:SXL) was released by: Seekingalpha.com and their article: “Sunoco Logistics Partners LP (SXL) Q3 2016 Results – Earnings Call Transcript” with publication date: November 10, 2016.

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