Sunoco Logistics Partners LP (SXL) : Traders are bullish on Sunoco Logistics Partners LP (SXL) as it has outperformed the S&P 500 by a wide margin of 7.24% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.26%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.32% in the last 1 week, and is up 8.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.45% and the 50-Day Moving Average is 7.32%. Sunoco Logistics Partners LP (NYSE:SXL): stock turned positive on Friday. Though the stock opened at $29.98, the bulls momentum made the stock top out at $30.37 level for the day. The stock recorded a low of $29.7 and closed the trading day at $30, in the green by 1.08%. The total traded volume for the day was 501,322. The stock had closed at $29.68 in the previous days trading.
The company Insiders own 3.74% of Sunoco Logistics Partners LP shares according to the proxy statements. Institutional Investors own 62.11% of Sunoco Logistics Partners LP shares. Also, Equity analysts at the Brokerage firm Mitsubishi UFG downgrades its rating on Sunoco Logistics Partners LP (NYSE:SXL). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on August 5, 2016.
Sunoco Logistics Partners L.P. owns and operates a logistics business. The Company is engaged in the transport, terminalling and storage of crude oil, refined products and natural gas liquids (NGLs). 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. The Company operates through four segments: Crude Oil Pipelines, transport crude oil in the southwest and midwest United States; Crude Oil Acquisition and Marketing, gathers, purchases, markets and sells crude oil in the mid-continent United States; Terminal Facilities, consist of crude oil, refined products and NGL terminals, and Products Pipelines, consist of crude oil, refined products and NGL terminals.