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

Shares of Sunoco LP (NYSE:SUN) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $62.75.

SUN has been the subject of several research reports. Royal Bank of Canada lifted their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays lifted 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.

Sunoco Stock Performance

NYSE SUN opened at $51.45 on Thursday. The stock has a market cap of $7.84 billion, a PE ratio of 11.83 and a beta of 1.36. Sunoco has a twelve month low of $49.45 and a twelve month high of $64.89. The stock has a fifty day simple moving average of $52.92 and a 200-day simple moving average of $53.54. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Sunoco (NYSE:SUN) last announced its 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 analysts’ expectations of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business earned $2.95 EPS. Equities analysts anticipate that Sunoco will post 7.16 earnings per share for the current year.

Sunoco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.8756 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.81%. The ex-dividend date was Friday, November 8th. Sunoco’s payout ratio is currently 80.46%.

Institutional Investors Weigh In On Sunoco

Large investors have recently bought and sold shares of the stock. Redwood Wealth Management Group LLC acquired a new position in shares of Sunoco during the second quarter worth about $46,000. HHM Wealth Advisors LLC purchased a new position in Sunoco in the second quarter worth approximately $93,000. Wilmington Savings Fund Society FSB acquired a new position in Sunoco during the 3rd quarter worth approximately $165,000. World Investment Advisors LLC increased its position in shares of Sunoco by 5.6% in the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 200 shares during the last quarter. Finally, Tyche Wealth Partners LLC raised its holdings in shares of Sunoco by 5.4% in the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 200 shares in 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.