Rating Alert: Sunoco Logistics (NYSE:SXL) Is a Stock BMO Capital Markets Is Wary of; Firm Downgrades It

November 25, 2016 - By Peter Erickson

Rating Alert:  Sunoco Logistics (NYSE:SXL) Is a Stock BMO Capital Markets Is Wary of; Firm Downgrades It

Sunoco Logistics (NYSE:SXL) Downgrade

BMO Capital Markets cut the shares of Sunoco Logistics (NYSE:SXL) from a “Outperform” rating to “Market Perform” rating in a an analyst note released on 25 November. The firm currently has a $26 price target on company.

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

Out of 13 analysts covering Sunoco Logistics (NYSE:SXL), 7 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 54% are positive. $50 is the highest target while $23 is the lowest. The $34.18 average target is 45.14% above today’s ($23.55) stock price. Sunoco Logistics has been the topic of 25 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Jefferies downgraded the stock to “Hold” rating in Wednesday, June 8 report. Stifel Nicolaus downgraded the stock to “Hold” rating in Thursday, January 28 report. The stock of Sunoco Logistics Partners L.P. (NYSE:SXL) earned “Neutral” rating by Credit Suisse on Monday, August 10. The firm has “Mkt Perform” rating by Bernstein given on Tuesday, November 8. Morgan Stanley reinitiated Sunoco Logistics Partners L.P. (NYSE:SXL) on Monday, August 15 with “Equal-Weight” rating. The rating was initiated by Stephens on Thursday, September 29 with “Overweight”. On Monday, August 10 the stock rating was upgraded by Wells Fargo to “Outperform”. The stock has “Underperform” rating given by Bernstein on Wednesday, May 11. The company was initiated on Monday, October 19 by Howard Weil. Wells Fargo upgraded the shares of SXL in a report on Friday, August 7 to “Outperform” rating.

About 511,557 shares traded hands. Sunoco Logistics Partners L.P. (NYSE:SXL) has declined 17.09% since April 22, 2016 and is downtrending. It has underperformed by 22.50% the S&P500.

Analysts await Sunoco Logistics Partners L.P. (NYSE:SXL) to report earnings on February, 22. They expect $0.23 EPS, 0.00% or $0.00 from last year’s $0.23 per share. SXL’s profit will be $76.96M for 25.60 P/E if the $0.23 EPS becomes a reality. After $0.16 actual EPS reported by Sunoco Logistics Partners L.P. for the previous quarter, Wall Street now forecasts 43.75% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.41 in Q2 2016. Its down 0.08, from 1.49 in 2016Q1. The ratio is negative, 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.

Bankshares Of America De has invested 0.03% of its portfolio in Sunoco Logistics Partners L.P. (NYSE:SXL). Fiduciary Finance Of The Southwest Inc Tx has invested 2.56% of its portfolio in Sunoco Logistics Partners L.P. (NYSE:SXL). Salient Advisors Llc has 4.84 million shares for 3.09% of their US portfolio. Bnp Paribas Arbitrage Sa last reported 29,156 shares in the company. Cv Starr Incorporated Trust last reported 4.43% of its portfolio in the stock. Segall Bryant Hamill Ltd Liability has 0.02% invested in the company for 21,400 shares. Marshall Wace Llp holds 111,327 shares or 0.03% of its portfolio. Ladenburg Thalmann holds 0.01% of its portfolio in Sunoco Logistics Partners L.P. (NYSE:SXL) for 19,121 shares. Gradient Invests Ltd Co owns 18 shares or 0% of their US portfolio. Brookfield Asset, a Ontario – Canada-based fund reported 1.19 million shares. Van Eck Assocs last reported 40,645 shares in the company. King Luther Mngmt last reported 0% of its portfolio in the stock. Moreover, Wexford Cap Ltd Partnership has 2.35% invested in Sunoco Logistics Partners L.P. (NYSE:SXL) for 470,048 shares. Fcm Invs Tx holds 12,411 shares or 0.21% of its portfolio. Jpmorgan Chase & Company holds 0.03% or 4.21 million shares in its portfolio.

Sunoco Logistics Partners L.P. owns and operates a logistics business. The company has a market cap of $7.88 billion. The Firm is engaged in the transport, terminalling and storage of crude oil, refined products and natural gas liquids . It has a 46.92 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: Fool.com which released: “3 Things Investors Need to Know About the Energy Transfer Partners LP/Sunoco …” on November 23, 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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