Brokerages Set Sunoco LP (NYSE:SUN) Price Target at $62.14

Sunoco LP (NYSE:SUN) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $62.14.

SUN has been the topic of a number of analyst reports. Barclays decreased their price objective on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Stifel Nicolaus upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Friday, June 7th. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Citigroup raised shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, June 18th. Finally, Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $60.00 to $59.00 in a research note on Tuesday, June 4th.

Institutional Trading of Sunoco

Several institutional investors have recently made changes to their positions in SUN. Wedbush Securities Inc. increased its position in Sunoco by 2.1% during the 2nd quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock worth $597,000 after purchasing an additional 218 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in Sunoco by 2.5% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 9,325 shares of the oil and gas company’s stock valued at $527,000 after buying an additional 228 shares in the last quarter. International Assets Investment Management LLC grew its stake in Sunoco by 3.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock worth $574,000 after buying an additional 283 shares during the period. Quad Cities Investment Group LLC increased its position in shares of Sunoco by 2.2% in the second quarter. Quad Cities Investment Group LLC now owns 13,624 shares of the oil and gas company’s stock worth $770,000 after acquiring an additional 288 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Sunoco by 3.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 8,296 shares of the oil and gas company’s stock valued at $469,000 after acquiring an additional 293 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Up 0.7 %

SUN stock opened at $52.62 on Friday. 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 12 month low of $44.26 and a 12 month high of $64.89. The firm has a market capitalization of $8.02 billion, a PE ratio of 11.72 and a beta of 1.30. The company’s 50 day simple moving average is $54.40 and its 200-day simple moving average is $55.73.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $2.62. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. Sunoco’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts expect that Sunoco will post 8.09 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date of this dividend was Friday, August 9th. Sunoco’s dividend payout ratio is currently 77.95%.

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.