Sunoco LP (NYSE:SUN – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $78.35 and last traded at $78.5230, with a volume of 16734 shares trading hands. The stock had previously closed at $77.67.
Analysts Set New Price Targets
SUN has been the subject of several research reports. Barclays increased their price target on Sunoco from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Wells Fargo & Company upped their price objective on shares of Sunoco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th. Mizuho set a $83.00 target price on shares of Sunoco in a research note on Friday, July 24th. Finally, Citigroup boosted their price target on shares of Sunoco from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $79.00.
Check Out Our Latest Analysis on SUN
Sunoco Price Performance
Sunoco (NYSE:SUN – Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($1.56). The firm had revenue of $14.26 billion during 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 business’s revenue for the quarter was up 164.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Analysts anticipate that Sunoco LP will post 9.57 EPS for the current fiscal year.
Sunoco Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given 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 dividend on an annualized basis and a dividend yield of 5.1%. Sunoco’s dividend payout ratio is 88.72%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC bought a new stake in Sunoco during the third quarter worth about $40,000. Glen Eagle Advisors LLC increased its position in shares of 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 last quarter. Compass Financial Management LLC bought a new position in shares of Sunoco during the 2nd quarter valued at about $60,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Sunoco during the 1st quarter valued at about $78,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of 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 valued at $82,000 after buying an additional 823 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.
Sunoco Company Profile
Sunoco LP (NYSE:SUN) is a publicly traded master limited partnership focused on the distribution, transportation and storage of motor fuels and other petroleum products. The company supplies gasoline, diesel and other fuels to independent dealers, commercial customers, distributors and retail operators, supporting fuel sales under the Sunoco brand and other brands.
Sunoco operates a broad logistics network that includes fuel terminals, pipelines, storage facilities, marine assets and other transportation infrastructure.
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