Shares of Sunoco LP (NYSE:SUN – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $75.66 and last traded at $75.1710, with a volume of 8176 shares trading hands. The stock had previously closed at $74.99.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SUN. Royal Bank Of Canada raised their price objective on Sunoco to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen raised shares of Sunoco from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Raymond James Financial restated a “strong-buy” rating and set a $80.00 price target on shares of Sunoco in a report on Wednesday, May 6th. Mizuho boosted their price target on shares of Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company boosted their price target on shares of Sunoco from $71.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $74.75.
Read Our Latest Stock Analysis on Sunoco
Sunoco Trading Down 2.1%
Sunoco (NYSE:SUN – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $1.14. The firm 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 business’s revenue was up 106.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 earnings per share. As a group, sell-side analysts anticipate that Sunoco LP will post 7.92 EPS for the current fiscal year.
Institutional Trading of Sunoco
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SUN. Ancora Advisors LLC bought a new position in shares of Sunoco in the third quarter valued at approximately $40,000. Glen Eagle Advisors LLC raised its position in Sunoco by 496.5% in the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 710 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Sunoco during the 1st quarter valued at $78,000. Cresta Advisors Ltd. purchased a new position in Sunoco during the 4th quarter worth $64,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Sunoco by 110.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 823 shares in the last quarter. 24.29% of the stock is owned by institutional investors.
About Sunoco
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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