Analysts have a consensus target price of $41.29 in the 12-month period. The price objective is 35.96% higher than the recent closing price of $30.37. The 52-week price range is $18.62-$53.72 and the company has a market capitalization of $15.78 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 2 has assigned a hold rating, 2 says it’s a buy, and 7 have assigned a strong buy rating to the company.
On March 31, 2016 Energy Transfer Partners, L.P. (ETP) and Sunoco LP (SUN) announced that they have completed the previously announced dropdown to SUN of the remaining 68.42% interest in Sunoco, LLC and 100% interest in Sunoco Retail LLC, which owns the legacy Sunoco convenience store business, for approximately $2.226 billion.
The transaction has an effective date of January 1, 2016 and is expected to be accretive to distributable cash flow and expected distributions per unit for SUN in 2016 and thereafter.
SUN paid ETP approximately $2.2 billion in cash including the expected value of working capital and issued to ETP 5,710,922 million SUN common units valued at approximately $194 million based on the five-day volume-weighted average price of SUN’s common units as of November 13, 2015. In connection with the closing of the acquisition, SUN entered into a $2.035 billion senior secured term loan facility to fund a portion of the cash consideration for the acquisition, with the remaining portion funded with borrowings under SUN’s revolving credit facility.
This final dropdown completes a total of $5.7 billion of dropdowns from ETP to SUN since the fourth quarter of 2014, transforming into one of the leading wholesale fuel and retail marketing platforms in the United States, with tremendous geographic scale and a unique diversity of business drivers.
Energy Transfer Partners, L.P. engages in the natural gas midstream, and intrastate transportation and storage businesses in the United States. The company’s Intrastate Transportation and Storage segment transports natural gas from various natural gas producing areas, and through ET fuel system and HPL system. It owns and operates 7,500 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas. Its Interstate Transportation and Storage segment provides natural gas transportation and storage services; owns and operates approximately 12,300 miles of interstate natural gas pipeline; and has interests in various natural gas pipelines. The company’s Midstream segment gathers, compresses, treats, blends, processes, and markets natural gas. It owns and operates 35,000 miles of in service natural gas, 31 natural gas processing plants, 21 natural gas treating facilities, and 4 natural gas conditioning facilities.
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