MLP Lifted Higher As Investors Seek Dividends

Sunoco Logistics Partners (SXL – Analyst Report) has held up quite well in the weak market, recently hitting a new 52-week high as investors flock to dividend stocks. With a second quarter earnings surprise of 83% and estimates on the rise, this Zacks #1 Rank stock has momentum in a weak market.

Sunoco Logistics is engaged in the transport, terminaling and storage of refined petroleum products in the United States. This Master Limited Partnership was founded in 2001 and has a market cap of $2.88 billion. With the market recently on the down swing, investors have been shifting into more conservative segments of the market. That and strong second quarter results from late July have given dividend stocks like SXL a nice boost.

Source: Forbes

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