There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 10, Sunoco Logistics Partners L.P.'s CFO and Treasurer, Peter J. Gvazdauskas, invested $109,038.89 into 2,800 shares of SXL, for a cost per share of $38.94. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Thursday, bargain hunters could buy shares of Sunoco Logistics Partners L.P. (NYSE: SXL) and achieve a cost basis 1.6% cheaper than Gvazdauskas, with shares changing hands as low as $38.32 per share. Sunoco Logistics Partners L.P. shares are currently trading off about 0.2% on the day. The chart below shows the one year performance of SXL shares, versus its 200 day moving average:
Looking at the chart above, SXL's low point in its 52 week range is $35.61 per share, with $52.47 as the 52 week high point — that compares with a last trade of $38.41. By comparison, below is a table showing the prices at which SXL insider buying was recorded over the last six months:
Purchased | Insider | Title | Shares | Price/Share | Value |
---|---|---|---|---|---|
06/10/2015 | Peter J. Gvazdauskas | CFO and Treasurer | 2,800 | $38.94 | $109,038.89 |
The current annualized dividend paid by Sunoco Logistics Partners L.P. is $1.676/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/07/2015. Below is a long-term dividend history chart for SXL, which can be of good help in judging whether the most recent dividend with approx. 4.4% annualized yield is likely to continue.
According to the ETF Finder at ETFChannel.com, SXL makes up 4.76% of the MLP ETF (AMEX: MLPA) which is trading lower by about 0.2% on the day Thursday.
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