Sunoco (NYSE:SUN) Price Target Raised to $82.00

Sunoco (NYSE:SUN) had its price target boosted by Wells Fargo & Company from $77.00 to $82.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Several other equities analysts also recently issued reports on SUN. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 target price on shares of Sunoco in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on Sunoco from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Mizuho set a $83.00 price objective on shares of Sunoco in a research note on Friday, July 24th. Royal Bank Of Canada raised their price objective on shares of Sunoco to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research note 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 given a Hold rating to the company. According to data from MarketBeat.com, Sunoco currently has an average rating of “Buy” and an average price target of $79.00.

Sunoco Trading Down 4.1%

SUN stock opened at $70.58 on Wednesday. The company has a market capitalization of $14.46 billion, a price-to-earnings ratio of 15.62 and a beta of 0.41. The business has a 50 day simple moving average of $69.31 and a two-hundred day simple moving average of $65.89. 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 has a 1-year low of $47.98 and a 1-year high of $78.11.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). Sunoco had a net margin of 2.88% and a return on equity of 19.62%. The firm had revenue of $14.26 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter last year, the firm earned $0.33 EPS. The company’s revenue was up 164.5% on a year-over-year basis. Research analysts anticipate that Sunoco will post 11.09 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $1.0023 dividend. This is a boost from Sunoco’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, August 7th. This represents a $4.01 annualized dividend and a yield of 5.7%. Sunoco’s payout ratio is presently 87.61%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Diversified Trust Co boosted its position in 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 acquiring an additional 168 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of 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 worth $509,000 after purchasing an additional 205 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Sunoco by 2.1% in the second quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock worth $552,000 after purchasing an additional 212 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of Sunoco by 4.1% during the second quarter. PFG Investments LLC now owns 5,951 shares of the oil and gas company’s stock worth $402,000 after purchasing an additional 237 shares during the period. Finally, Glenmede Investment Management LP boosted its holdings in shares of 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 purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

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.