Sunoco LP (NYSE:SUN) Stock Now Rated “Buy” by Sell-Side Brokerages

Sunoco LP (NYSE:SUN) has been assigned a consensus recommendation of “Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $79.00.

SUN has been the topic of several research analyst reports. Mizuho set a $83.00 price objective on Sunoco in a research report on Friday, July 24th. Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup boosted their price target on shares of Sunoco from $73.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Barclays increased their price target on shares of Sunoco from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th.

Hedge Funds Weigh In On Sunoco

Several institutional investors have recently bought and sold shares of SUN. Glen Eagle Advisors LLC raised its stake in shares of Sunoco by 496.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 710 shares during the period. Compass Financial Management LLC purchased a new position in shares of Sunoco during the 2nd quarter valued at $60,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Sunoco during the 1st quarter worth $78,000. Western Wealth Management LLC purchased a new stake in Sunoco in the 1st quarter worth about $138,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Sunoco in the 2nd quarter worth about $190,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Trading Down 2.4%

NYSE:SUN opened at $72.84 on Wednesday. Sunoco has a 52 week low of $48.60 and a 52 week high of $80.22. The firm has a 50-day moving average price of $75.64 and a two-hundred day moving average price of $70.00. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.83 and a current ratio of 1.29. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 16.12 and a beta of 0.41.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). The business had revenue of $14.26 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Sunoco had a return on equity of 18.78% and a net margin of 2.88%.Sunoco’s quarterly revenue was up 164.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities analysts expect that Sunoco will post 9.57 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a dividend of $1.0023 per share. This represents a $4.01 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Friday, August 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.9899. Sunoco’s dividend payout ratio (DPR) is 88.72%.

About Sunoco

Sunoco LP is a publicly traded master limited partnership that distributes and markets motor fuel in the United States. The company supplies gasoline, diesel, and other refined products to independent dealers, commercial customers, distributors, and convenience-store operators. It also supports fuel sales through the Sunoco brand, which is licensed to retail locations operated by third parties.

In addition to fuel distribution, Sunoco owns and operates a network of refined-product terminals and pipelines used to receive, store, transport, and deliver motor fuels and other petroleum products.