Brokerages Set Sunoco LP (NYSE:SUN) Price Target at $62.43

Shares of Sunoco LP (NYSE:SUN) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $63.43.

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their price objective on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Mizuho raised their target price on Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.

Institutional Trading of Sunoco

Several large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC grew its holdings in Sunoco by 11.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock worth $5,236,000 after acquiring an additional 10,080 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after purchasing an additional 455,361 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Sunoco by 5,437.3% during the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after purchasing an additional 562,435 shares during the last quarter. Avid Wealth Partners LLC acquired a new stake in shares of Sunoco in the third quarter valued at approximately $850,000. Finally, FORA Capital LLC bought a new position in Sunoco in the 3rd quarter worth approximately $524,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Trading Down 2.7 %

Shares of NYSE SUN opened at $56.31 on Monday. The business has a fifty day simple moving average of $53.91 and a 200-day simple moving average of $53.41. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 12.94 and a beta of 1.36. Sunoco has a 12 month low of $49.45 and a 12 month high of $64.89. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts predict that Sunoco will post 9.63 EPS for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.8865 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.30%. Sunoco’s dividend payout ratio (DPR) is currently 80.46%.

Sunoco Company Profile

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.