Sunoco (NYSE:SUN – Free Report) had its target price lowered by Barclays from $62.00 to $61.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.
Several other analysts have also recently issued reports on SUN. Mizuho increased their price objective on Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their price target on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.50.
Read Our Latest Research Report on Sunoco
Sunoco Stock Up 0.9 %
Sunoco (NYSE:SUN – Get Free Report) last announced its 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%. Analysts predict that Sunoco will post 10.65 EPS for the current year.
Sunoco Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.8865 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend was Friday, February 7th. Sunoco’s dividend payout ratio is currently 53.64%.
Institutional Investors Weigh In On Sunoco
Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Sunoco in the fourth quarter valued at approximately $31,000. Independence Bank of Kentucky acquired a new position in shares of Sunoco in the 4th quarter valued at $53,000. Steward Partners Investment Advisory LLC grew its position in shares of Sunoco by 17.1% in 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 buying an additional 182 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Sunoco by 93.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 788 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in Sunoco during the 4th quarter worth $90,000. Institutional investors and hedge funds own 24.29% of the company’s stock.
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.
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