Sunoco LP (NYSE:SUN) saw strong trading volume on Thursday . 583,299 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 642,399 shares.The stock last traded at $27.86 and had previously closed at $28.43.

Several research firms have recently weighed in on SUN. Vetr cut shares of Sunoco from a “buy” rating to a “sell” rating and set a $29.50 price objective on the stock. in a research report on Wednesday, June 8th. Barclays PLC restated an “overweight” rating and set a $32.00 price objective (down previously from $37.00) on shares of Sunoco in a research report on Thursday, June 16th. JPMorgan Chase & Co. restated a “buy” rating on shares of Sunoco in a research report on Sunday, April 17th. Finally, Jefferies Group cut shares of Sunoco from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $24.00 in a research report on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Sunoco presently has an average rating of “Hold” and an average target price of $36.96.

The stock has a 50 day moving average price of $31.13 and a 200 day moving average price of $32.55. The stock has a market cap of $3.08 billion and a price-to-earnings ratio of 27.13.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.11. On average, equities research analysts expect that Sunoco LP will post $1.80 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Gabelli Funds LLC purchased a new position in Sunoco during the fourth quarter worth $2,377,000. Penserra Capital Management LLC bought a new position in shares of Sunoco during the fourth quarter worth $5,726,000. Liberty Mutual Group Asset Management Inc. bought a new position in shares of Sunoco during the fourth quarter worth $1,657,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Sunoco during the fourth quarter worth $2,169,000. Finally, Morgan Stanley raised its position in shares of Sunoco by 20.0% in the fourth quarter. Morgan Stanley now owns 3,003,809 shares of the company’s stock worth $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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