Sunoco (NYSE:SUN) PT Raised to $63.00

Sunoco (NYSE:SUN) had its target price lifted by JPMorgan Chase & Co. from $61.00 to $63.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other research analysts have also weighed in on the stock. Stifel Nicolaus upgraded shares of Sunoco from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research note on Friday, June 7th. StockNews.com lowered shares of Sunoco from a buy rating to a hold rating in a research note on Thursday, August 8th. Barclays lowered their price objective on shares of Sunoco from $61.00 to $60.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Citigroup upgraded shares of Sunoco from a neutral rating to a buy rating and set a $65.00 price objective on the stock in a research note on Tuesday, June 18th. Finally, Mizuho upgraded shares of Sunoco from a neutral rating to a buy rating and lowered their price objective for the stock from $60.00 to $59.00 in a research note on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $62.14.

Sunoco Trading Down 1.1 %

Shares of NYSE:SUN opened at $51.87 on Wednesday. The company’s 50-day moving average price is $54.55 and its two-hundred day moving average price is $55.96. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. Sunoco has a one year low of $44.26 and a one year high of $64.89. The stock has a market capitalization of $7.91 billion, a PE ratio of 11.55 and a beta of 1.30.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, topping the consensus estimate of $1.23 by $2.62. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities analysts forecast that Sunoco will post 7.01 EPS for the current fiscal year.

Sunoco Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.8756 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.50 dividend on an annualized basis and a yield of 6.75%. Sunoco’s dividend payout ratio (DPR) is currently 77.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SUN. Tortoise Capital Advisors L.L.C. grew its position in shares of Sunoco by 26,345.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company’s stock worth $76,406,000 after purchasing an additional 1,346,258 shares in the last quarter. Blackstone Inc. grew its position in shares of Sunoco by 58.0% during the 4th quarter. Blackstone Inc. now owns 2,387,608 shares of the oil and gas company’s stock worth $143,089,000 after purchasing an additional 876,452 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Sunoco by 176.6% during the 2nd quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company’s stock worth $39,591,000 after purchasing an additional 447,072 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Sunoco by 10.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock worth $174,081,000 after purchasing an additional 275,875 shares in the last quarter. Finally, Adams Asset Advisors LLC grew its position in shares of Sunoco by 82.3% during the 2nd quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company’s stock worth $32,315,000 after purchasing an additional 258,103 shares in the last quarter. Institutional investors and hedge funds 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.