Sunoco LP (NYSE:SUN) Receives $62.25 Consensus Price Target from Analysts

Sunoco LP (NYSE:SUN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $62.25.

SUN has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Sunoco from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, September 4th. StockNews.com cut Sunoco from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada boosted their target price on Sunoco from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th.

Institutional Trading of Sunoco

A number of hedge funds have recently added to or reduced their stakes in SUN. Longfellow Investment Management Co. LLC acquired a new position in shares of Sunoco during the 2nd quarter worth about $32,000. First Horizon Advisors Inc. acquired a new position in Sunoco in the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Sunoco in the 2nd quarter valued at approximately $46,000. HHM Wealth Advisors LLC purchased a new stake in shares of Sunoco during the 2nd quarter valued at approximately $93,000. Finally, Kingsview Wealth Management LLC acquired a new position in Sunoco in the first quarter valued at approximately $201,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Performance

NYSE:SUN traded down $0.35 on Wednesday, hitting $53.47. The stock had a trading volume of 430,239 shares, compared to its average volume of 516,833. Sunoco has a 52-week low of $49.45 and a 52-week high of $64.89. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 12.33 and a beta of 1.31. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The business's 50-day simple moving average is $52.75 and its two-hundred day simple moving average is $53.57.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $6.09 billion. During the same period last year, the company earned $2.95 earnings per share. The business's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, research analysts predict that Sunoco will post 7.16 earnings per share for the current year.

Sunoco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.8756 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.55%. Sunoco's payout ratio is 80.46%.

About Sunoco

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.