Sunoco LP (NYSE:SUN) Receives $62.71 Consensus Target Price from Brokerages

Sunoco LP (NYSE:SUN) has received a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $62.71.

Several equities analysts have weighed in on SUN shares. Stifel Nicolaus cut Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a report on Tuesday, February 20th. Citigroup cut shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Tuesday, February 27th. Raymond James raised their target price on shares of Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, January 19th. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Sunoco from $53.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th.

Insider Buying and Selling

In related news, Director David K. Skidmore bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $52.10 per share, with a total value of $78,150.00. Following the completion of the transaction, the director now directly owns 14,608 shares in the company, valued at $761,076.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Sunoco

Several large investors have recently made changes to their positions in SUN. Principal Securities Inc. purchased a new stake in Sunoco in the 4th quarter worth about $27,000. ICA Group Wealth Management LLC bought a new stake in shares of Sunoco in the fourth quarter valued at approximately $30,000. CNB Bank bought a new stake in shares of Sunoco in the first quarter valued at approximately $30,000. Compass Wealth Management LLC boosted its holdings in Sunoco by 60.0% in the 3rd quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after buying an additional 300 shares during the period. Finally, Allworth Financial LP boosted its holdings in Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after buying an additional 500 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Trading Up 2.3 %

Shares of Sunoco stock opened at $56.86 on Friday. Sunoco has a 12-month low of $41.95 and a 12-month high of $64.89. The company has a quick ratio of 0.76, a current ratio of 1.40 and a debt-to-equity ratio of 3.66. The business’s 50 day moving average is $58.59 and its 200-day moving average is $57.50. The stock has a market cap of $5.73 billion, a P/E ratio of 15.62 and a beta of 1.29.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. Equities research analysts predict that Sunoco will post 5.07 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.876 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.16%. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, May 10th. Sunoco’s dividend payout ratio (DPR) is 96.15%.

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.