Sunoco LP (TXSE:SUN) Stock Has Average Price Target of $80.12

Shares of Sunoco LP (TXSE:SUN) have been given an average rating of “Buy” by the ten analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $80.12.

SUN has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th. Barclays restated an “overweight” rating and set a $83.00 price target on shares of Sunoco in a report on Thursday, October 15th. JPMorgan Chase & Co. started coverage on Sunoco in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $87.00 price objective on the stock. Wells Fargo & Company upped their price objective on Sunoco from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. Finally, Mizuho set a $83.00 target price on Sunoco in a research report on Friday, July 24th.

Sunoco Stock Up 3.4%

Shares of SUN stock opened at $65.34 on Thursday. The stock has a market cap of $13.38 billion, a P/E ratio of 14.46 and a beta of 0.42. Sunoco has a 52 week low of $50.20 and a 52 week high of $80.22. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.95. The company’s fifty day simple moving average is $73.05 and its two-hundred day simple moving average is $68.72.

Sunoco (TXSE:SUN) last released its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $2.07 EPS for the quarter, missing the consensus estimate of $2.46 by ($0.39). The company had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $11.76 billion. Sunoco had a net margin of 2.88% and a return on equity of 18.78%. During the same period last year, the company earned $0.64 EPS. Analysts predict that Sunoco will post 10.60 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be given a $1.0148 dividend. This is a boost from Sunoco’s previous quarterly dividend of $1.0023. This represents a $4.06 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, November 6th. Sunoco’s dividend payout ratio (DPR) is presently 68.07%.

Insider Transactions at Sunoco

In other Sunoco news, Director David Skidmore purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were bought at an average price of $61.53 per share, with a total value of $92,295.00. Following the completion of the purchase, the director directly owned 20,748 shares in the company, valued at $1,276,624.44. This trade represents a 7.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Sunoco

A number of institutional investors and hedge funds have recently made changes to their positions in SUN. Compass Wealth Management LLC bought a new stake in shares of Sunoco in the 3rd quarter worth about $58,000. Compass Financial Management LLC purchased a new stake in shares of Sunoco during the 2nd quarter valued at about $60,000. Fifth Third Bancorp bought a new position in shares of Sunoco in the 3rd quarter valued at about $63,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Sunoco by 198.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 978 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 650 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Sunoco in the 1st quarter valued at about $78,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

About Sunoco

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand. Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.