Boston, MA 04/01/2014 (wallstreetpr) – Sunoco Logistics Partners L.P. (NYSE:SXL) which in February filed an application with West Goshen township to be permitted to construct a public utility facility is now facing opposition from the residents regarding its proposed project. The company which is up to put up a natural gas pumping station has residents questioning the possible safety and health impact of its proposed gas facility. In order to address the outrage among the residents, the company is planning to have its representatives address the questions being raised by the residents. In setting up a gas pump station in W. Goshen, Sunoco Logistics Partners is looking to grow its cash flow, address supply imbalance and grow value for the investors. The stock price of Sunoco Logistics Partners L.P. (NYSE:SXL) was recently upgraded to $90 per share from $73 at Citigroup Inc (NYSE:C). Thus, the stock has consensus hold rating and average price target of $76.86 following comments from about eight rating firms. The company earned 63 cents per share in the last reported quarter, falling short of expected EPS of 67 cents. Nonetheless, revenue came in strongly at $4.29 billion against the expected $3.86 billion.
VAALCO Energy, Inc. (NYSE:EGY) which is engaged in oil and natural gas production recently issued operation update. The company announced that maintenance work at its leased floating vessel were able to be successfully completed ahead of time, thus allowing restart of production at a block in Etame Marin. The floating facility underwent intensive repairs to ensure that it functions optimally without fear of any potential risks or breakdown. Yet, EGY is still looking forward to potential shutdown of the facility in the second half of 2014 to allow for the upgrade of systems involved in the fire and gas detection. As the maintenance at the floating vessel was ongoing, the company also undertook repair work at other infrastructure in Etame Marin. So then, with the repairs done and ahead of schedule, VAALCO Energy, Inc. (NYSE:EGY) is looking to return production in four of its fields to pre-shut-in levels.
Having noted that its experimental heart failure drug LCZ696 showed significant success in patients, Novartis AG (ADR) (NYSE:NVS) is now seeking early approval of the drug. Approval of the drug will effectively boost the company’s portfolio in cardiac therapies. According to analysts, the drug has potential annual sales of $1 billion.