Sunoco LP (SUN) Shares Down 8.2%
Shares of Sunoco LP (NYSE:SUN) fell 8.2% during trading on Thursday . The stock traded as low as $28.04 and last traded at $28.37, with a volume of 1,515,133 shares trading hands. The stock had previously closed at $30.90.
Several research firms have commented on SUN. JPMorgan Chase & Co. restated 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. Robert W. Baird cut Sunoco from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $30.00 in a report on Thursday. Royal Bank Of Canada decreased 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. Finally, Zacks Investment Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $35.88.
The firm has a market cap of $3.24 billion and a P/E ratio of 28.58. The stock’s 50-day moving average price is $30.04 and its 200 day moving average price is $31.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, August 5th will be paid a $0.8255 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.82. This represents a $3.30 annualized dividend and a yield of 11.38%. The ex-dividend date of this dividend is Wednesday, August 3rd.
A number of large investors have made changes to their positions in SUN. Liberty Mutual Group Asset Management Inc. acquired a new stake in shares of Sunoco during the fourth quarter valued at about $1,657,000. Gabelli Funds LLC acquired a new stake in shares of Sunoco during the fourth quarter valued at about $2,377,000. BNP Paribas Arbitrage SA increased its stake in shares of Sunoco by 325.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 78,649 shares of the company’s stock valued at $3,115,000 after buying an additional 60,149 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Sunoco by 48.7% in the fourth quarter. Jennison Associates LLC now owns 93,830 shares of the company’s stock valued at $3,717,000 after buying an additional 30,717 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Sunoco by 1,906.9% in the fourth quarter. Bank of Montreal Can now owns 404,000 shares of the company’s stock valued at $16,002,000 after buying an additional 383,869 shares in the last quarter.
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.
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