Sunoco LP (NYSE:SUN) Receives $65.00 Consensus Price Target from Analysts

Sunoco LP (NYSE:SUN) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $65.00.

Several equities analysts have commented on SUN shares. Weiss Ratings cut shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research lowered shares of Sunoco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Barclays restated an “overweight” rating and issued a $57.00 target price on shares of Sunoco in a research report on Monday, November 17th. Mizuho decreased their price target on Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Finally, Wells Fargo & Company set a $65.00 price objective on Sunoco and gave the stock an “overweight” rating in a research note on Wednesday, October 29th.

Hedge Funds Weigh In On Sunoco

Several hedge funds have recently made changes to their positions in the business. Steigerwald Gordon & Koch Inc. acquired a new stake in Sunoco during the third quarter valued at approximately $31,000. Harbor Asset Planning Inc. acquired a new stake in shares of Sunoco during the 2nd quarter valued at $41,000. Ancora Advisors LLC bought a new stake in shares of Sunoco during the 3rd quarter worth $40,000. Bessemer Group Inc. boosted its stake in shares of Sunoco by 41.7% during the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 400 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Sunoco by 95.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock worth $74,000 after acquiring an additional 675 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Up 0.6%

Shares of Sunoco stock opened at $52.85 on Monday. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50. Sunoco has a 1-year low of $47.98 and a 1-year high of $59.88. The business’s fifty day moving average price is $53.41 and its two-hundred day moving average price is $52.54. The company has a market capitalization of $10.81 billion, a P/E ratio of 18.04 and a beta of 0.49.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.90). Sunoco had a return on equity of 13.94% and a net margin of 2.61%.The business had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the previous year, the company posted ($0.26) EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Sunoco will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Thursday, October 30th were given a $0.9202 dividend. This represents a $3.68 annualized dividend and a yield of 7.0%. This is a boost from Sunoco’s previous quarterly dividend of $0.91. The ex-dividend date was Thursday, October 30th. Sunoco’s dividend payout ratio (DPR) is presently 125.60%.

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.