Sunoco LP (NYSE:SUN) Receives $62.25 Average Target Price from Brokerages

Sunoco LP (NYSE:SUN) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $62.25.

Several analysts have issued reports on SUN shares. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Royal Bank of Canada upped their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th.

Hedge Funds Weigh In On Sunoco

Large investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC bought a new position in shares of Sunoco during the 2nd quarter valued at about $32,000. First Horizon Advisors Inc. bought a new position in shares of Sunoco during the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC bought a new position in shares of Sunoco during the 2nd quarter valued at about $46,000. HHM Wealth Advisors LLC bought a new position in shares of Sunoco during the 2nd quarter valued at about $93,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Sunoco during the 1st quarter valued at about $201,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Up 0.6 %

SUN stock opened at $54.32 on Wednesday. Sunoco has a one year low of $49.45 and a one year high of $64.89. The stock has a market capitalization of $8.28 billion, a PE ratio of 12.49 and a beta of 1.31. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The company has a fifty day moving average of $52.79 and a 200-day moving average of $53.57.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $6.09 billion. During the same quarter last year, the business posted $2.95 EPS. The firm’s revenue was down 9.0% on a year-over-year basis. As a group, analysts expect that Sunoco will post 7.16 EPS for the current year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.45%. 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.