Sunoco LP (NYSE:SUN) Receives $62.75 Consensus PT from Analysts

Shares of Sunoco LP (NYSE:SUN) have earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $62.75.

Several equities research analysts recently commented on SUN shares. Barclays boosted their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th.

Sunoco Trading Down 1.9 %

SUN stock opened at $51.45 on Thursday. Sunoco has a 52-week low of $49.45 and a 52-week high of $64.89. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The firm has a market cap of $7.84 billion, a P/E ratio of 11.83 and a beta of 1.36. The company’s 50-day simple moving average is $52.92 and its 200-day simple moving average is $53.54.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The business 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 business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.95 EPS. As a group, equities analysts forecast that Sunoco will post 7.16 EPS for the current fiscal year.

Sunoco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors 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 6.81%. Sunoco’s dividend payout ratio is presently 80.46%.

Hedge Funds Weigh In On Sunoco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chickasaw Capital Management LLC raised its holdings in shares of Sunoco by 21.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 77,000 shares of the oil and gas company’s stock worth $3,961,000 after acquiring an additional 13,600 shares during the period. JPMorgan Chase & Co. raised its stake in Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after purchasing an additional 455,361 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in 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 purchasing an additional 190 shares during the period. Tidal Investments LLC boosted its holdings in Sunoco by 17.0% in the 3rd quarter. Tidal Investments LLC now owns 7,597 shares of the oil and gas company’s stock valued at $408,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunoco in the 3rd quarter valued at approximately $165,000. 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.