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

Sunoco LP (NYSE:SUN) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $62.75.

SUN has been the subject of several recent analyst reports. Barclays raised their target price on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada boosted their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th.

Sunoco Trading Up 0.4 %

SUN opened at $51.07 on Friday. Sunoco has a twelve month low of $49.45 and a twelve month high of $64.89. The company has a fifty day moving average of $53.03 and a 200-day moving average of $53.76. The stock has a market cap of $7.78 billion, a PE ratio of 11.74 and a beta of 1.33. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the business posted $2.95 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts predict that Sunoco will post 7.16 EPS for the current year.

Sunoco Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 6.86%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SUN. B. Riley Wealth Advisors Inc. increased its position in shares of Sunoco by 1.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 190 shares in the last quarter. Tidal Investments LLC increased its holdings in Sunoco by 17.0% during the 3rd quarter. Tidal Investments LLC now owns 7,597 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 1,105 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunoco in the third quarter worth approximately $165,000. World Investment Advisors LLC raised 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, Sanctuary Advisors LLC lifted its holdings in shares of Sunoco by 11.7% in the third quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock valued at $5,236,000 after purchasing an additional 10,080 shares in the last quarter. 24.29% of the stock is owned by institutional investors.

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.