Sunoco (NYSE:SUN) Sets New 1-Year High – Time to Buy?

Sunoco LP (NYSE:SUN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $71.75 and last traded at $71.37, with a volume of 300051 shares changing hands. The stock had previously closed at $70.81.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” 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 report on Saturday. Royal Bank Of Canada upped their price target on shares of Sunoco to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Stifel Nicolaus upped their price target on shares of Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Finally, Barclays upped their price target on shares of Sunoco from $63.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $74.13.

Sunoco Stock Performance

The stock’s fifty day moving average price is $66.03 and its two-hundred day moving average price is $59.52. The company has a market cap of $14.83 billion, a P/E ratio of 18.46 and a beta of 0.46. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $1.14. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The firm’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. As a group, equities analysts predict that Sunoco LP will post 7.92 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a dividend of $0.9899 per share. The ex-dividend date is Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a yield of 5.5%. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. Sunoco’s dividend payout ratio is currently 101.28%.

Hedge Funds Weigh In On Sunoco

Institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in Sunoco during the 3rd quarter worth approximately $40,000. Glen Eagle Advisors LLC increased its position in Sunoco by 496.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 710 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Sunoco during the 1st quarter worth approximately $78,000. Cresta Advisors Ltd. acquired a new position in Sunoco during the 4th quarter worth approximately $64,000. Finally, Russell Investments Group Ltd. increased its position in Sunoco by 110.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 823 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

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.