Sunoco LP (NYSE:SUN) Receives $74.13 Average Target Price from Brokerages

Shares of Sunoco LP (NYSE:SUN) have earned a consensus recommendation of “Buy” from the ten analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $74.1250.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, March 24th. Royal Bank Of Canada boosted their target price on shares of Sunoco to $78.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Mizuho boosted their target price on shares of Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings raised shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Finally, Citigroup boosted their target price on shares of Sunoco from $65.00 to $73.00 and gave the company a “buy” rating in a report on Friday, May 8th.

Sunoco Trading Down 0.4%

NYSE:SUN opened at $63.27 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $12.96 billion, a PE ratio of 16.18 and a beta of 0.43. The firm’s 50 day moving average is $66.73 and its 200 day moving average is $61.70. Sunoco has a 12 month low of $47.98 and a 12 month high of $72.88.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $1.14. The company had revenue of $10.69 billion for 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%. Sunoco’s revenue was up 106.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Sell-side analysts expect that Sunoco will post 7.92 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $0.9899 per share. This represents a $3.96 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. Sunoco’s payout ratio is presently 101.28%.

Institutional Investors Weigh In On Sunoco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Sunoco by 33.7% in the third quarter. Barclays PLC now owns 593,970 shares of the oil and gas company’s stock worth $29,704,000 after purchasing an additional 149,732 shares during the period. Cooperman Leon G increased its holdings in shares of Sunoco by 10.2% in the third quarter. Cooperman Leon G now owns 1,620,000 shares of the oil and gas company’s stock worth $81,016,000 after purchasing an additional 150,000 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of Sunoco in the third quarter worth $7,104,000. Caprock Group LLC bought a new position in shares of Sunoco in the third quarter worth $1,126,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Sunoco by 13.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,179,502 shares of the oil and gas company’s stock worth $159,007,000 after purchasing an additional 374,396 shares during the period. Institutional investors own 24.29% of the company’s stock.

Sunoco Company Profile

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.