Sunoco LP (NYSE:SUN) Receives $63.67 Average Target Price from Brokerages

Shares of Sunoco LP (NYSE:SUN) have been assigned an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $63.67.

SUN has been the topic of a number of recent research reports. Mizuho increased their target price on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Barclays upped their price target on shares of Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Royal Bank of Canada raised their price objective on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th.

Sunoco Price Performance

Shares of SUN opened at $58.52 on Tuesday. Sunoco has a fifty-two week low of $49.45 and a fifty-two week high of $60.61. The firm’s 50-day simple moving average is $57.33 and its two-hundred day simple moving average is $54.43. The stock has a market cap of $8.93 billion, a PE ratio of 8.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. Analysts anticipate that Sunoco will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.8865 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.06%. Sunoco’s payout ratio is 53.64%.

Institutional Trading of Sunoco

Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its holdings in shares of Sunoco by 17.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 182 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Sunoco by 1.8% in the 3rd 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. Stifel Financial Corp raised its stake in Sunoco by 0.8% during the 3rd quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock valued at $1,355,000 after buying an additional 194 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of Sunoco by 5.6% during 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 buying an additional 200 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in shares of Sunoco by 2.6% in the 3rd quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock worth $517,000 after buying an additional 245 shares during 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.