Sunoco (NYSE:SUN) Hits New 1-Year High – Still a Buy?

Shares of Sunoco LP (NYSE:SUN) hit a new 52-week high during trading on Wednesday . The company traded as high as $59.88 and last traded at $59.2150, with a volume of 46270 shares. The stock had previously closed at $59.10.

Analyst Ratings Changes

Several research analysts have commented on SUN shares. Wall Street Zen upgraded shares of Sunoco from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Wells Fargo & Company set a $65.00 price target on shares of Sunoco and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Zacks Research cut Sunoco from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Raymond James Financial raised Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $65.60.

Sunoco Trading Up 1.0%

The stock has a 50-day moving average of $55.46 and a two-hundred day moving average of $53.34. The company has a market cap of $12.17 billion, a P/E ratio of 20.31 and a beta of 0.51. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.50 and a current ratio of 3.11.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Friday, February 6th will be issued a dividend of $0.9317 per share. The ex-dividend date is Friday, February 6th. This is a boost from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 annualized dividend and a dividend yield of 6.3%. Sunoco’s dividend payout ratio is 127.30%.

Institutional Trading of Sunoco

Several institutional investors have recently bought and sold shares of the company. Kingsview Wealth Management LLC increased its stake in Sunoco by 2.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after purchasing an additional 205 shares in the last quarter. Quadrant Private Wealth Management LLC grew its holdings in shares of Sunoco by 5.2% during the third quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 209 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of 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 valued at $552,000 after acquiring an additional 212 shares in the last quarter. Uhlmann Price Securities LLC increased its position in shares of Sunoco by 2.8% during the third quarter. Uhlmann Price Securities LLC now owns 9,036 shares of the oil and gas company’s stock valued at $452,000 after acquiring an additional 250 shares in the last quarter. Finally, Glenmede Investment Management LP raised its holdings in Sunoco by 0.7% in the 3rd quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company’s stock worth $1,955,000 after acquiring an additional 288 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

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.