Sunoco LP (NYSE:SUN) Given Average Recommendation of “Buy” by Brokerages

Shares of Sunoco LP (NYSE:SUN) have received a consensus rating of “Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $77.1250.

SUN has been the topic of several research reports. Raymond James Financial restated a “strong-buy” rating and issued a $80.00 price target on shares of Sunoco in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Citigroup boosted their target price on shares of Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Sunoco from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Mizuho set a $83.00 price target on shares of Sunoco in a report on Friday, July 24th.

Hedge Funds Weigh In On Sunoco

Institutional investors and hedge funds have recently modified their holdings of the stock. Ancora Advisors LLC bought a new position in shares of Sunoco during the 3rd quarter valued at approximately $40,000. Glen Eagle Advisors LLC lifted its position in Sunoco by 496.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after buying an additional 710 shares during the last quarter. Cresta Advisors Ltd. purchased a new position in Sunoco during the fourth quarter worth $64,000. Cassaday & Co Wealth Management LLC purchased a new position in Sunoco during the first quarter worth $78,000. Finally, Russell Investments Group Ltd. boosted its stake in Sunoco by 110.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after buying an additional 823 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Down 0.4%

Shares of SUN opened at $76.38 on Tuesday. The stock has a market capitalization of $15.64 billion, a price-to-earnings ratio of 19.54 and a beta of 0.41. Sunoco has a 1 year low of $47.98 and a 1 year high of $78.11. The business’s 50 day simple moving average is $68.78 and its 200-day simple moving average is $65.51. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92.

Sunoco (NYSE:SUN) last posted its 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. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same period in the prior year, the company earned $1.21 EPS. The company’s quarterly revenue was up 106.4% compared to the same quarter last year. As a group, equities analysts expect that Sunoco will post 8.8 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be given a dividend of $1.0023 per share. This represents a $4.01 dividend on an annualized basis and a yield of 5.2%. This is a boost from Sunoco’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, August 7th. Sunoco’s dividend payout ratio (DPR) is currently 101.28%.

About Sunoco

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.