Sunoco LP (NYSE:SUN) Receives $74.13 Average Target Price from Brokerages

Sunoco LP (NYSE:SUN – Get Free Report) has earned a consensus rating of “Buy” from the ten research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $74.1250.

A number of analysts have weighed in on SUN shares. Wells Fargo & Company increased their price target on shares of Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. lifted their price target on shares of Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 24th. Finally, Barclays boosted their price target on shares of Sunoco from $63.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC purchased a new stake in shares of Sunoco in the first quarter valued at approximately $138,000. NewEdge Advisors LLC lifted its position in Sunoco by 44.0% during the first quarter. NewEdge Advisors LLC now owns 10,986 shares of the oil and gas company’s stock worth $714,000 after buying an additional 3,358 shares during the period. Bank of America Corp DE boosted its stake in Sunoco by 32.0% in the 1st quarter. Bank of America Corp DE now owns 204,609 shares of the oil and gas company’s stock worth $13,293,000 after buying an additional 49,589 shares during the last quarter. Royal Bank of Canada grew its holdings in Sunoco by 7.2% in the 1st quarter. Royal Bank of Canada now owns 190,474 shares of the oil and gas company’s stock valued at $12,375,000 after buying an additional 12,806 shares during the period. Finally, Recurrent Investment Advisors LLC grew its holdings in Sunoco by 51.5% in the 1st quarter. Recurrent Investment Advisors LLC now owns 1,027,877 shares of the oil and gas company’s stock valued at $66,781,000 after buying an additional 349,254 shares during the period. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Stock Performance

Shares of Sunoco stock opened at $63.27 on Monday. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 16.18 and a beta of 0.43. Sunoco has a 12 month low of $47.98 and a 12 month high of $72.88. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92. The business has a 50-day moving average of $66.73 and a 200 day moving average of $61.74.

Sunoco (NYSE:SUN – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $10.19 billion. During the same quarter last year, the company earned $1.21 EPS. Sunoco’s revenue for the quarter was up 106.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunoco will post 7.92 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.9899 dividend. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 annualized dividend and a dividend yield of 6.3%. Sunoco’s dividend payout ratio is currently 101.28%.

Sunoco Company Profile

(Get Free Report)

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.

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