Sunoco (NYSE:SUN) Price Target Raised to $68.00

Sunoco (NYSE:SUN - Free Report) had its price target hoisted by Mizuho from $66.00 to $68.00 in a research note published on Thursday, MarketBeat.com reports. Mizuho currently has an outperform rating on the oil and gas company's stock.

A number of other research firms also recently weighed in on SUN. Royal Bank of Canada increased their target price on Sunoco from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Barclays lowered their price objective on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $63.83.

Sunoco Stock Performance

Shares of NYSE SUN traded down $0.15 during trading on Thursday, reaching $51.89. 101,948 shares of the company traded hands, compared to its average volume of 512,376. The firm has a 50 day simple moving average of $57.54 and a 200-day simple moving average of $54.61. Sunoco has a 52-week low of $48.00 and a 52-week high of $59.67. The stock has a market capitalization of $7.92 billion, a PE ratio of 7.86 and a beta of 1.06. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84.

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Sunoco (NYSE:SUN - Get Free Report) last posted its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. Equities research analysts anticipate that Sunoco will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.8865 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.55 annualized dividend and a dividend yield of 6.83%. This is an increase from Sunoco's previous quarterly dividend of $0.88. Sunoco's dividend payout ratio (DPR) is 53.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its stake in Sunoco by 13.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,983 shares of the oil and gas company's stock worth $256,000 after acquiring an additional 592 shares during the period. State of Wyoming purchased a new stake in Sunoco in the 4th quarter worth $102,000. Recurrent Investment Advisors LLC grew its position in shares of Sunoco by 2.9% during the fourth quarter. Recurrent Investment Advisors LLC now owns 888,862 shares of the oil and gas company's stock valued at $45,723,000 after purchasing an additional 24,686 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Sunoco by 5.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company's stock valued at $134,192,000 after purchasing an additional 128,042 shares in the last quarter. Finally, Cresset Asset Management LLC increased its holdings in shares of Sunoco by 58.8% in the fourth quarter. Cresset Asset Management LLC now owns 11,097 shares of the oil and gas company's stock worth $571,000 after purchasing an additional 4,109 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors.

Sunoco Company Profile

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.