Brokerages Set Sunoco LP (NYSE:SUN) PT at $64.80

Sunoco LP (NYSE:SUN) has earned an average recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $64.80.

SUN has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Barclays reduced their target price on Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, Mizuho upped their target price on Sunoco from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 3rd.

Hedge Funds Weigh In On Sunoco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. acquired a new stake in Sunoco in the 4th quarter valued at about $256,000. Virtu Financial LLC acquired a new stake in Sunoco in the 4th quarter valued at about $239,000. Icon Advisers Inc. Co. acquired a new stake in Sunoco in the 4th quarter valued at about $1,852,000. Van ECK Associates Corp raised its position in Sunoco by 41.1% in the 4th quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company’s stock valued at $1,550,000 after purchasing an additional 8,782 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Sunoco in the 4th quarter valued at about $17,739,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Price Performance

Shares of NYSE SUN opened at $53.96 on Friday. The business’s 50 day moving average price is $55.44 and its 200 day moving average price is $55.50. The firm has a market cap of $8.24 billion, a P/E ratio of 8.18 and a beta of 0.62. Sunoco has a 52 week low of $48.00 and a 52 week high of $59.88. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Sunoco will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were issued a dividend of $0.8976 per share. This represents a $3.59 dividend on an annualized basis and a yield of 6.65%. This is a boost from Sunoco’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, May 9th. Sunoco’s dividend payout ratio (DPR) is 64.68%.

Sunoco Company Profile

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.