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 currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $74.75.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 24th. Barclays increased their price target on shares of Sunoco from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of Sunoco from $71.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Sunoco from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st.

Sunoco Stock Up 1.7%

Shares of NYSE:SUN opened at $72.19 on Friday. Sunoco has a 52-week low of $47.98 and a 52-week high of $73.40. The stock has a market cap of $14.78 billion, a P/E ratio of 18.46 and a beta of 0.42. The business has a fifty day moving average of $67.46 and a two-hundred day moving average of $63.71. 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 posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. The company’s quarterly revenue was up 106.4% compared to the same quarter last year. On average, research analysts expect that Sunoco will post 7.92 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.9899 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, May 8th. Sunoco’s dividend payout ratio (DPR) is presently 101.28%.

Hedge Funds Weigh In On Sunoco

Several large investors have recently modified their holdings of the business. Diversified Trust Co increased its position in shares of Sunoco by 3.0% during the 1st quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company’s stock worth $379,000 after purchasing an additional 168 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Sunoco by 2.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after buying an additional 205 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Sunoco by 2.1% during the second quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock worth $552,000 after buying an additional 212 shares during the period. Glenmede Investment Management LP boosted its stake in Sunoco by 0.7% during the third quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company’s stock worth $1,955,000 after buying an additional 288 shares during the period. Finally, EP Wealth Advisors LLC increased its position in shares of Sunoco by 3.4% during the second quarter. EP Wealth Advisors LLC now owns 8,886 shares of the oil and gas company’s stock valued at $476,000 after acquiring an additional 296 shares during the last quarter. Institutional investors and hedge funds 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.