Sunoco LP (NYSE:SUN) Receives $62.75 Average PT from Brokerages

Sunoco LP (NYSE:SUN) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $62.75.

Several analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays lifted their price target on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th.

Sunoco Price Performance

Shares of NYSE:SUN opened at $51.73 on Thursday. Sunoco has a one year low of $49.45 and a one year high of $64.89. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 11.89 and a beta of 1.36. The company’s fifty day moving average price is $52.92 and its 200-day moving average price is $53.51.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Sunoco will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.8756 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.77%. Sunoco’s dividend payout ratio is currently 80.46%.

Institutional Investors Weigh In On Sunoco

Institutional investors and hedge funds have recently modified their holdings of the stock. Redwood Wealth Management Group LLC bought a new position in Sunoco in the second quarter worth about $46,000. HHM Wealth Advisors LLC bought a new position in shares of Sunoco in the 2nd quarter worth approximately $93,000. Kieckhefer Group LLC bought a new position in shares of Sunoco in the 4th quarter worth approximately $129,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Sunoco in the 3rd quarter valued at approximately $165,000. Finally, World Investment Advisors LLC boosted its position in shares of Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 200 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

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.