Sunoco LP (NYSE:SUN) saw strong trading volume on Thursday . 583,299 shares traded hands during 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.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Sunoco in a report on Sunday, April 17th. Vetr upgraded Sunoco from a “hold” rating to a “buy” rating and set a $37.22 target price on the stock in a report on Monday, May 2nd. Royal Bank Of Canada reduced their target price on Sunoco from $51.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, May 11th. Zacks Investment Research downgraded Sunoco from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, Jefferies Group downgraded Sunoco from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $34.00 to $24.00 in a report on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Sunoco has an average rating of “Hold” and an average price target of $36.96.

The company has a 50 day moving average price of $31.02 and a 200 day moving average price of $32.50. The company has a market cap of $3.21 billion and a PE ratio of 28.30.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.11. Equities analysts predict that Sunoco LP will post $1.80 earnings per share for the current year.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Liberty Mutual Group Asset Management Inc. purchased a new position in Sunoco during the fourth quarter worth $1,657,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Sunoco during the fourth quarter worth $2,169,000. Gabelli Funds LLC purchased a new position in Sunoco during the fourth quarter worth $2,377,000. BNP Paribas Arbitrage SA boosted its position in Sunoco by 325.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 78,649 shares of the company’s stock worth $3,115,000 after buying an additional 60,149 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Sunoco by 48.7% in the fourth quarter. Jennison Associates LLC now owns 93,830 shares of the company’s stock worth $3,717,000 after buying an additional 30,717 shares during 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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