Sunoco LP (NYSE:SUN)’s share price fell 1.9% during mid-day trading on Wednesday . The company traded as low as $28.26 and last traded at $28.43, with a volume of 688,041 shares. The stock had previously closed at $28.97.

A number of brokerages have recently issued reports on SUN. JPMorgan Chase & Co. restated a “buy” rating on shares of Sunoco in a research report on Sunday, April 17th. Vetr upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $37.22 price objective on the stock in a research report on Monday, May 2nd. Barclays PLC began coverage on shares of Sunoco in a research report on Wednesday, April 13th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Goldman Sachs Group Inc. lowered their price objective on shares of Sunoco from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Finally, Royal Bank Of Canada lowered their price objective on shares of Sunoco from $51.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Sunoco currently has a consensus rating of “Hold” and an average target price of $36.96.

The company has a market cap of $3.18 billion and a P/E ratio of 28.01. The company has a 50 day moving average of $31.28 and a 200 day moving average of $32.59.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.11. Equities research analysts predict that Sunoco LP will post $1.85 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of SUN. Penserra Capital Management LLC purchased a new stake in Sunoco during the fourth quarter valued at about $5,726,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in Sunoco during the fourth quarter valued at about $1,657,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Sunoco during the fourth quarter valued at about $2,169,000. Gabelli Funds LLC purchased a new stake in Sunoco during the fourth quarter valued at about $2,377,000. Finally, Morgan Stanley raised its stake in Sunoco by 20.0% in the fourth quarter. Morgan Stanley now owns 3,003,809 shares of the company’s stock valued at $118,981,000 after buying an additional 500,944 shares in the last quarter.

Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the fee-based wholesale distribution of motor fuels to Susser and third parties in Texas, New Mexico, Oklahoma, Louisiana, Kansas, Maryland, Virginia, Tennessee, Georgia and Hawaii. The Company is also engaged in the retail sale of motor fuel and the operation of convenience stores through its subsidiaries.

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