Sunoco LP (NYSE:SUN) Receives $62.75 Consensus Target Price from Brokerages

Sunoco LP (NYSE:SUN - Get Free Report) has been given an average rating of "Moderate Buy" by the eight brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $62.75.

SUN has been the topic of several research analyst reports. Barclays upped their price objective on Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sunoco from $61.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, September 4th.

Sunoco Stock Performance

Sunoco stock traded down $0.32 during mid-day trading on Friday, reaching $53.36. 288,919 shares of the company's stock were exchanged, compared to its average volume of 355,341. The firm has a market capitalization of $8.13 billion, a PE ratio of 12.27 and a beta of 1.33. 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 fifty day simple moving average is $53.13 and its 200 day simple moving average is $53.77. Sunoco has a one year low of $49.45 and a one year high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. Sunoco's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 EPS. On average, sell-side analysts expect that Sunoco will post 7.16 earnings per share for the current year.

Sunoco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Friday, November 8th. Sunoco's payout ratio is 80.46%.

Institutional Trading of Sunoco

A number of large investors have recently modified their holdings of SUN. Tortoise Capital Advisors L.L.C. raised its stake in Sunoco by 26,345.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company's stock valued at $76,406,000 after purchasing an additional 1,346,258 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Sunoco by 5,437.3% during the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company's stock valued at $30,747,000 after buying an additional 562,435 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Sunoco by 176.6% during the 2nd quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company's stock worth $39,591,000 after acquiring an additional 447,072 shares during the last quarter. Barclays PLC lifted its holdings in shares of Sunoco by 908,833.3% during the 3rd quarter. Barclays PLC now owns 436,288 shares of the oil and gas company's stock worth $23,419,000 after acquiring an additional 436,240 shares during the last quarter. Finally, Recurrent Investment Advisors LLC grew its position in Sunoco by 29.3% in the third quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company's stock worth $46,389,000 after acquiring an additional 195,583 shares in the last quarter. Institutional investors own 24.29% of the company's stock.

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.