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Sunoco Announces Open Season on Permian Pipelines, Shares Jump

By  +Follow September 19, 2013 11:15AM
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Sunoco Logistics Partners LP (SXL) , the $7 billion market-cap oil and gas pipeline company from Texas, saw shares spike to within a dollar of their 52-week high on Thursday after announcing the initiation of a binding open season for its Permian Express 2 pipeline.

The Permian Express 2 is a pipeline project whose ultimate goal is to facilitate the delivery of crude from the Permian Basin, one of the world’s largest deposits of rocks from the geological period of the same name. Located mostly in the western portion of the state of Texas, as well as a bit of New Mexico, Permian has been a longstanding domestic source of oil in the US, and has also proven itself incredibly valuable in the nascent and much heralded shale energy boom.

According to Sunoco, the Permian Express 2 project will entail at least 300 miles of pipe, and will have a starting capacity of about 200,000 barrels per day, to be transported to both the companies own facilities, as well as those of interested third-party pipelines, with the Gulf Coast expected to be one of the main destinations.

The company has already been having a good year, with shares up some 33 percent since January 1, and yesterday’s late announcement just made it a little better, with shares climbing to $67. But the news bodes well for pipeline companies in general, who stand to benefit from both the delay/annulment of the proposed and widely reviled Keystone XL project, as well the continent-wide ramp up in production that is expected to be a trend in the long-term.

Gas pipeline segment of the basic materials sector had a banner day in general, with substantial gains for all but 5 out of 44 listed companies. Spectra Energy Partners (SEP) was up 3 percent to $43.92, while DCP Midstream Partners (DPM) added 2.5 percent to $49.37, followed by TC Pipelines (TCP) and SemGroup Corporation (SEMG) .

 

[Image Courtesy of Wikimedia Commons]

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Results for SXL
Daily Contracts
3 Jul 15 13:20:02
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvJ594
Breaking News Now
2 Jul 15 19:34:02
$SXL: Sunoco Logistics Partners L.P. Upgraded to Overweight at Morgan ...: http://t.co/HfNqovuAb3
WealthEsteem.Org
2 Jul 15 17:45:11
$SXL:ASX 10:12 AM Southern Cross Media Group Appoints Chief Sales Officer http://t.co/lP3U67KQsn
Analyst Actions
2 Jul 15 13:24:02
$SXL: Bullish analyst action by Morgan Stanley on Sunoco Logistics Partners: http://t.co/0Zpw0rq07U http://t.co/swpJSZtguu
Dakota Financial
2 Jul 15 10:24:23
Brokerages Set Sunoco Logistics Partners L.P. PT at $51.13 $SXL http://t.co/XT6cf6QG2B
The Legacy News
2 Jul 15 09:27:34
Sunoco Logistics Partners L.P. Upgraded at Morgan Stanley $SXL http://t.co/XWjS7aHQoD
dre
1 Jul 15 23:53:54
RT @CommSec: Biggest gains on the ASX200 today: $PBG up 50.8%, $BSL up 25.6%, $TEN up 8.3%, $EGP up 6.7%, $SXL up 5.9% #ausbiz ^SD
unemployed Cleaner
1 Jul 15 23:16:26
RT @CommSec: Biggest gains on the ASX200 today: $PBG up 50.8%, $BSL up 25.6%, $TEN up 8.3%, $EGP up 6.7%, $SXL up 5.9% #ausbiz ^SD
CommSec
1 Jul 15 23:15:30
Biggest gains on the ASX200 today: $PBG up 50.8%, $BSL up 25.6%, $TEN up 8.3%, $EGP up 6.7%, $SXL up 5.9% #ausbiz ^SD
ProVesting
1 Jul 15 09:54:03
$SXL: Sunoco Logistics Partners LP (NYSE:SXL) Ratings Update: http://t.co/T8C3PihHmi
ProTradersNews
1 Jul 15 09:42:02
$CHK $SXL $CLR $FB: Oklahoma Woman Blaming Fracking Wastewater for Quake Can Sue: http://t.co/AttJEWCm68
BreakingStocksNews
1 Jul 15 07:24:03
$SXL: Sunoco Logistics Partners LP (NYSE:SXL) Analyst Rating Update: http://t.co/heEQxnsR0r
WKRB News
1 Jul 15 06:04:22
Sunoco Logistics Partners L.P. Stock Rating Upgraded by Morgan Stanley $SXL http://t.co/HjpNkPRM3S
Dakota Financial
1 Jul 15 05:34:04
Morningstar Issues BBB Credit Rating to Sunoco Logistics Partners L.P. $SXL http://t.co/xyhg9EyXNe
Breaking News
1 Jul 15 05:32:10
$SXL: Morningstar Issues BBB Credit Rating to Sunoco Logistics Partners ...: http://t.co/CUzqQz0jRI
Ticker Report
1 Jul 15 05:27:12
Morningstar Issues BBB Credit Rating to Sunoco Logistics Partners L.P. $SXL http://t.co/WCRZl4l7Yh
Breaking News Now
1 Jul 15 01:23:03
$SXL: Shares of Sunoco Logistics Partners LP (NYSE:SXL) Sees Large ...: http://t.co/mdAVPp4WVA
Analyst Actions
1 Jul 15 00:29:02
$SXL: Bullish analyst action by Morgan Stanley on Sunoco Logistics Partners: http://t.co/0Zpw0rHBwu http://t.co/EnYpOv0BXi
Charles Freestone
30 Jun 15 23:25:31
RT @CommSec: Biggest declines on the ASX200 today: $TEN dn 5.3%, $FMG dn 4.2%, $SXL dn 4.1%, $ARI dn 3.7%, $MRM dn 2.8% #ausbiz ^TP
dre
30 Jun 15 23:21:24
RT @CommSec: Biggest declines on the ASX200 today: $TEN dn 5.3%, $FMG dn 4.2%, $SXL dn 4.1%, $ARI dn 3.7%, $MRM dn 2.8% #ausbiz ^TP
CommSec
30 Jun 15 23:19:16
Biggest declines on the ASX200 today: $TEN dn 5.3%, $FMG dn 4.2%, $SXL dn 4.1%, $ARI dn 3.7%, $MRM dn 2.8% #ausbiz ^TP
CommSec
30 Jun 15 21:02:02
Biggest declines on the ASX200 today: $FMG dn 4.1%, $SXL dn 3.9%, $ARI dn 3.7%, $CSR dn 3.4%, $AWC dn 3.4% #ausbiz ^JR
CommSec
30 Jun 15 21:00:31
Biggest declines on the ASX200 today: $FMG dn 4.1%, $SXL dn 3.9%, $ARI dn 3.7%, $CSR dn 3.4%, $AWC dn 3.4% #ausbiz ^TP
WallStreetConsensus
30 Jun 15 18:29:06
Upgrades 6/30: $BCRX, $SXL, $LOW, $CLGX, $SPW, $BPOP, $PBR http://t.co/8W744YxUil
Dividend.com
30 Jun 15 14:01:44
Upgrades and Downgrades: Follow our Analyst Moves for June 30th http://t.co/sG5WRqcWZy $SHO $SXL $ANF $SYY #Dividends
TipRanks Live Feed
30 Jun 15 12:54:16
2-star analyst Brian Lasky from Morgan Stanley upgraded rating on $SXL to BUY. http://t.co/b098iUvkWQ #NYSE #stocks #SXL
Trackur
30 Jun 15 07:47:27
RT @OptionRunners: $SXL tested $37 support yesterday and held, upgraded this morning. Starting to look good here >> http://t.co/UqpiIjpKy8
Option Runners
30 Jun 15 07:46:47
$SXL tested $37 support yesterday and held, upgraded this morning. Starting to look good here >> http://t.co/UqpiIjpKy8
US Stock Ratings
30 Jun 15 07:42:45
Morgan Stanley upgrades $SXL from Equal-Weight to Overweight http://t.co/dsWLY7IG5m
Dakota Financial
30 Jun 15 07:25:02
Sunoco Logistics Partners L.P. Upgraded to “Overweight” by Morgan Stanley $SXL http://t.co/Py8aJTk14Y
The Fly
30 Jun 15 07:01:09
On The Fly: Analyst Upgrade Summary $BCRX $CLGX $GFI $ING $LOW $PBR $BPOP $RES $RRC $SXL $SHO: Full Story http://t.co/H9O9LlZ25h
Analyst Actions
30 Jun 15 06:50:02
$SXL: Bullish analyst action by Morgan Stanley on Sunoco Logistics Partners: http://t.co/0Zpw0rHBwu http://t.co/jvrvVggHnE
Bahit Jolaman
30 Jun 15 05:46:05
$PBR Raised to Hold Vs Reduce at HSBC $RRC Raised to Outperform at Raymond James $SXL Raised to Overweight: Morgan Stanley
Trackur
30 Jun 15 05:39:40
hopefully this $SXL upgrade will create some movement. Times running out on my options.
Master LP
30 Jun 15 05:34:34
$SXL raised to 'Overweight' at MS, $48 PT.
Time=Best Stock
30 Jun 15 05:31:54
RT @daytradingninja: Analyst Upgrades: $LOW $ING $BCRX $PBR $BPOP $CLGX $SXL Analyst Downgrades: $ANF $HSBC $SYY $MLHR $FBC $NI $TCB $AGO …
DayTrading Ninja
30 Jun 15 05:30:07
Analyst Upgrades: $LOW $ING $BCRX $PBR $BPOP $CLGX $SXL Analyst Downgrades: $ANF $HSBC $SYY $MLHR $FBC $NI $TCB $AGO 2015.06.30 08:30AM EST
SMPH #Sanders2016
30 Jun 15 04:57:58
$SXL received a new alert. Find out why at http://t.co/DySPCuDafo #stocks #daytrading #trading #mkt #NYSE #NASD… http://t.co/mWqUw0JyJe
Media Sentiment
30 Jun 15 04:45:13
$SXL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 44
SIAnalystWire
30 Jun 15 04:41:40
Morgan Stanley Upgrades Sunoco Logistics Partners $SXL to Overweight http://t.co/vto6YThizu
Media Sentiment
30 Jun 15 04:35:14
$SXL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 36
US Consumer News
30 Jun 15 04:33:15
Sunoco Logistics Partners L.P. upgraded by Morgan Stanley to overweight. http://t.co/W1oWskxz5S $SXL #SXL
MarketBeatCom
30 Jun 15 04:33:05
Sunoco Logistics Partners L.P. upgraded by Morgan Stanley to overweight. http://t.co/nIDkl7N9fG $SXL #SXL
FirstToMarkets
30 Jun 15 04:30:08
Sunoco Logistics Partners L.P. Upgrade by Morgan Stanley (Ranked 39th) to Overweight $SXL #SXL http://t.co/iAOKnTAFEf
Ticker Report
30 Jun 15 04:27:00
Sunoco Logistics Partners L.P. Upgraded by Morgan Stanley to “Overweight” $SXL http://t.co/5tULx4IBVI
Sleek Money
30 Jun 15 04:20:34
Sunoco Logistics Partners L.P. Upgraded by Morgan Stanley to “Overweight” $SXL http://t.co/VRAGyWr1hw
Analyst Actions
30 Jun 15 03:12:02
$SXL: Bullish analyst action by Morgan Stanley on Sunoco Logistics Partners: http://t.co/0Zpw0rHBwu http://t.co/l2O2o9HhHp
dailystockplays.com
29 Jun 15 14:58:20
Ichimoku Red http://t.co/yKLBbYu5Kv $CBS $ANF $XHR $OGE $EQC $SBLK $SXL $WSH $SWIR $CHD $NVIV $GLPI $PTY $STAY $CIU $TRST $TGP $QTS
Penny Stock Secret
29 Jun 15 12:07:22
The Most Accurate Stock Alert Service Made $240,000 Yesterday http://t.co/SVqoMkrw2z .. $SXL $SXT $SYA
InvestWithConf
29 Jun 15 08:55:02
$SXL is rated BUY, 32.8% upside by Wall Street analysts based on average ratings/targets http://t.co/Yrb2RJrdmg http://t.co/n7VcZ8Wbqn
				
				
By  +Follow September 19, 2013 11:15AM
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