Sunoco (NYSE:SUN) Sets New 1-Year High – Time to Buy?

Shares of Sunoco LP (NYSE:SUN) hit a new 52-week high during trading on Wednesday . The company traded as high as $75.66 and last traded at $75.1710, with a volume of 8176 shares traded. The stock had previously closed at $74.99.

Wall Street Analyst Weigh In

SUN has been the topic of a number of research reports. Barclays upped their target price on shares of Sunoco from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their price target on shares of Sunoco from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Sunoco from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, March 24th. Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings raised shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Sunoco currently has an average rating of “Buy” and an average price target of $74.75.

Sunoco Stock Performance

The stock has a market cap of $15.55 billion, a P/E ratio of 19.37 and a beta of 0.42. The stock has a fifty day simple moving average of $67.88 and a 200-day simple moving average of $64.18. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.Sunoco’s revenue was up 106.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Equities analysts expect that Sunoco LP will post 7.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunoco

Several large investors have recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in shares of Sunoco by 3.2% during the fourth quarter. Alps Advisors Inc. now owns 24,856,265 shares of the oil and gas company’s stock worth $1,302,717,000 after purchasing an additional 766,781 shares in the last quarter. Energy Income Partners LLC raised its stake in Sunoco by 1.7% during the 3rd quarter. Energy Income Partners LLC now owns 1,916,858 shares of the oil and gas company’s stock worth $95,862,000 after buying an additional 32,866 shares during the period. Morgan Stanley raised its stake in Sunoco by 60.5% during the 4th quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock worth $85,922,000 after buying an additional 617,700 shares during the period. JPMorgan Chase & Co. lifted its holdings in Sunoco by 266.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock worth $85,233,000 after acquiring an additional 1,182,662 shares in the last quarter. Finally, Recurrent Investment Advisors LLC lifted its holdings in Sunoco by 51.5% during the first quarter. Recurrent Investment Advisors LLC now owns 1,027,877 shares of the oil and gas company’s stock worth $66,781,000 after acquiring an additional 349,254 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Company Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.