Sunoco LP (NYSE:SUN)’s share price gapped up before the market opened on Monday . The stock had previously closed at $28.44, but opened at $28.72. Sunoco shares last traded at $29.34, with a volume of 483,305 shares.

A number of equities 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 for the company in a report on Monday, May 2nd. Royal Bank Of Canada lowered their target price on Sunoco from $51.00 to $45.00 and set an “outperform” rating for the company 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 lowered their target price for the stock from $34.00 to $24.00 in a report on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Sunoco currently has an average rating of “Hold” and an average target price of $36.96.

The stock’s 50-day moving average is $30.90 and its 200 day moving average is $32.35. The company has a market cap of $3.30 billion and a P/E ratio of 29.06.

Sunoco (NYSE:SUN) last issued its earnings results on Thursday, May 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.58 by $0.11. Equities analysts forecast that Sunoco LP will post $1.80 EPS for the current year.

Other large investors recently modified their holdings of the company. Gabelli Funds LLC bought a new stake in shares of Sunoco during the fourth quarter valued at $2,377,000. Penserra Capital Management LLC bought a new stake in shares of Sunoco during the fourth quarter valued at $5,726,000. Liberty Mutual Group Asset Management Inc. bought a new stake in shares of Sunoco during the fourth quarter valued at $1,657,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Sunoco during the fourth quarter valued at $2,169,000. Finally, Morgan Stanley boosted its stake in shares of 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.