Sunoco LP (NYSE:SUN) Given Consensus Recommendation of “Buy” by Brokerages

Sunoco LP (NYSE:SUNGet Free Report) has received an average recommendation of “Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $79.00.

Several research analysts recently commented on SUN shares. Weiss Ratings reissued a “buy (b)” rating on shares of Sunoco in a research note on Tuesday, August 18th. Mizuho set a $83.00 price target on Sunoco in a research report on Friday, July 24th. Royal Bank Of Canada lifted their price objective on Sunoco to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price objective on Sunoco from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $80.00 target price on shares of Sunoco in a research note on Wednesday, May 6th.

Get Our Latest Stock Report on Sunoco

Sunoco Stock Performance

Shares of SUN stock opened at $74.83 on Friday. The firm has a 50 day moving average of $72.36 and a two-hundred day moving average of $67.73. The stock has a market capitalization of $15.33 billion, a PE ratio of 16.56 and a beta of 0.41. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.95. Sunoco has a 52 week low of $47.98 and a 52 week high of $78.11.

Sunoco (NYSE:SUNGet Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). The company had revenue of $14.26 billion for the quarter, compared to analysts’ expectations of $11.05 billion. Sunoco had a return on equity of 18.78% and a net margin of 2.88%.The firm’s revenue was up 164.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. On average, research analysts predict that Sunoco will post 9.88 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a dividend of $1.0023 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.99. The ex-dividend date was Friday, August 7th. This represents a $4.01 annualized dividend and a yield of 5.4%. Sunoco’s dividend payout ratio (DPR) is presently 88.72%.

Institutional Investors Weigh In On Sunoco

Hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC acquired a new position in shares of Sunoco during the third quarter worth $40,000. Compass Financial Management LLC acquired a new stake in Sunoco in the second quarter valued at $60,000. Glen Eagle Advisors LLC raised its stake in Sunoco by 496.5% in the fourth 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 in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Sunoco during the 1st quarter worth about $78,000. Finally, Cresta Advisors Ltd. purchased a new stake in Sunoco during the 4th quarter worth about $64,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

About Sunoco

(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.

Further Reading

Analyst Recommendations for Sunoco (NYSE:SUN)

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