The transaction, which completes $5.7 billion of retail-business dropdowns from Energy Transfer to Sunoco in the a year ago, will be effective January 1, and is expected to close in February.
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Sunoco Logistics Partners L.P. owns and runs a logistics company.
The covering brokerage firms also offer predicted future one year price targets on the shares. Energy Transfer Partners, L.P. has dropped 14.24% during the last 3-month period. The 50-day moving average is $34.66 and the 200 day moving average is recorded at $40.4. Barclays reduced their target price on Sunoco Logistics Partners L.P. from $57.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, August 10th. On average, equities research analysts anticipate that Energy Transfer Partners will post $1.23 earnings per share for the current fiscal year.
“It sounds like a good deal for Energy Transfer Partners”, Michael Kay, a pipeline analyst for Bloomberg Intelligence, said today by phone. Earnings per share is the portion of a company’s profit that is allocated to each outstanding share of common stock. The target price could hit $73 on the higher end and $48 on the lower end. The company reported $0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm earned $2.41 billion during the quarter, compared to analysts’ expectations of $3.56 billion.
The company shares have dropped -35.74% from its 1 Year high price.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 13th. This is an increase from Energy Transfer Partners’s previous quarterly dividend of $1.04. This actual posted number was $-0.03 away from analysts’ consensus, resulting in a surprise factor of -16.67%. The ex-dividend date was Thursday, November 5th. Volume is the number of shares traded in either a stock, or an exchange during a set period of time. Following the completion of the transaction, the director now owns 6,020 shares of the company’s stock, valued at $294,197.40.
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Sunoco LP (SUN), formerly Susser Petroleum Partners LP, is a master limited partnership (MLP), which distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Organization ‘s operating segments include Intrastate Transfer and Storage segment; Interstate Transportation and Storage section; Midstream segment; Liquids Transfer and Services segment; Investment in Sunoco Logistics segment; Retail Advertising section and Other section.
