Royal Bank Of Canada upgraded shares of Sunoco (NYSE:SUN – Free Report) to a moderate buy rating in a report released on Wednesday,Zacks.com reports.
SUN has been the topic of a number of other research reports. Barclays set a $63.00 target price on shares of Sunoco in a research report on Friday, February 20th. Citigroup upped their price target on shares of Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Stifel Nicolaus increased their price target on Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Mizuho raised their price objective on Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $80.00 price objective on shares of Sunoco in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $72.88.
Read Our Latest Report on Sunoco
Sunoco Stock Up 1.0%
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 for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $10.19 billion. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The firm’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same period last year, the company posted $1.21 EPS. As a group, analysts forecast that Sunoco will post 7.92 earnings per share for the current fiscal year.
Sunoco Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be issued a dividend of $0.9899 per share. This represents a $3.96 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, May 8th. This is a boost from Sunoco’s previous quarterly dividend of $0.93. Sunoco’s dividend payout ratio (DPR) is presently 101.28%.
Institutional Investors Weigh In On Sunoco
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC acquired a new position in shares of Sunoco in the third quarter worth approximately $40,000. Glen Eagle Advisors LLC increased its position in Sunoco by 496.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 710 shares during the period. Cresta Advisors Ltd. acquired a new stake in Sunoco during the 4th quarter valued at approximately $64,000. Cassaday & Co Wealth Management LLC bought a new position in Sunoco during the 1st quarter worth approximately $78,000. Finally, Russell Investments Group Ltd. raised its holdings in Sunoco by 110.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 823 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.
Sunoco Company Profile
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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