Brokerages Set Sunoco LP (NYSE:SUN) Target Price at $63.67

Shares of Sunoco LP (NYSE:SUN) have earned an average recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $63.67.

Several research firms have issued reports on SUN. Royal Bank of Canada boosted their price target on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays raised their target price on shares of Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Mizuho increased their price objective on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd.

Sunoco Price Performance

Shares of NYSE:SUN opened at $58.52 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $8.93 billion, a PE ratio of 8.87 and a beta of 1.35. The firm’s 50 day moving average price is $57.33 and its 200-day moving average price is $54.43. Sunoco has a twelve month low of $49.45 and a twelve month high of $60.61.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing the consensus estimate 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 expect that Sunoco will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.8865 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend was Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is 53.64%.

Hedge Funds Weigh In On Sunoco

Hedge funds have recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Sunoco during the fourth quarter valued at $31,000. Independence Bank of Kentucky bought a new position in shares of Sunoco during the 4th quarter valued at about $53,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 182 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Sunoco by 93.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 788 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Sunoco by 90.6% in the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 819 shares during the last quarter. Hedge funds and other 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.