Brokerages Set Sunoco LP (NYSE:SUN) Price Target at $62.75

Sunoco LP (NYSE:SUN) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $62.75.

SUN has been the subject of several analyst reports. 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 research report on Wednesday, September 4th. Royal Bank of Canada lifted their price target on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays boosted their price target on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th.

Sunoco Trading Down 1.7 %

SUN stock opened at $52.11 on Friday. Sunoco has a one year low of $49.45 and a one year high of $64.89. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 11.98 and a beta of 1.33. The company has a fifty day moving average price of $53.13 and a two-hundred day moving average price of $53.79. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities analysts anticipate that Sunoco will post 7.16 EPS for the current year.

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date was Friday, November 8th. Sunoco’s payout ratio is 80.46%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its position in Sunoco by 1.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock worth $570,000 after buying an additional 190 shares during the period. Stifel Financial Corp raised its stake in shares of Sunoco by 0.8% during the third quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock valued at $1,355,000 after acquiring an additional 194 shares during the last quarter. Tyche Wealth Partners LLC lifted its holdings in shares of Sunoco by 5.4% during the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 200 shares during the period. World Investment Advisors LLC grew its stake in shares of Sunoco by 5.6% in the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 200 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in Sunoco by 2.1% in the second quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock valued at $597,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds 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.