Sunoco LP (NYSE:SUN) Receives $62.25 Consensus PT from Brokerages

Shares of Sunoco LP (NYSE:SUN) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $62.25.

Several brokerages have recently issued reports on SUN. Royal Bank of Canada raised their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th.

Institutional Trading of Sunoco

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC bought a new position in shares of Sunoco during the 2nd quarter valued at approximately $32,000. First Horizon Advisors Inc. bought a new position in shares of Sunoco in the second quarter worth approximately $38,000. Redwood Wealth Management Group LLC bought a new position in shares of Sunoco in the second quarter worth approximately $46,000. HHM Wealth Advisors LLC purchased a new stake in shares of Sunoco in the second quarter worth $93,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sunoco during the 3rd quarter valued at $165,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

NYSE SUN opened at $54.18 on Wednesday. The company has a 50-day simple moving average of $52.80 and a two-hundred day simple moving average of $53.52. Sunoco has a 12-month low of $49.45 and a 12-month high of $64.89. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 12.46 and a beta of 1.31. 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 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 net margin of 2.72% and a return on equity of 19.77%. The company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.95 earnings per share. On average, equities analysts forecast that Sunoco will post 7.16 EPS for the current year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given 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 6.46%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

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.