Shares of Sunoco LP (NYSE:SUN) were up 3.1% during mid-day trading on Friday . The stock traded as high as $30.85 and last traded at $30.58, with a volume of 542,651 shares changing hands. The stock had previously closed at $29.67.

Several analysts recently issued reports on SUN shares. Vetr lowered shares of Sunoco from a “sell” rating to a “strong sell” rating and set a $23.50 price objective on the stock. in a report on Monday, June 20th. Credit Suisse Group AG downgraded Sunoco from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $36.00 in a research report on Tuesday, April 19th. Robert W. Baird reaffirmed an “outperform” rating and issued a $43.00 target price on shares of Sunoco in a research report on Tuesday, June 28th. Barclays PLC reaffirmed an “equal weight” rating and issued a $32.00 target price on shares of Sunoco in a research report on Thursday, July 7th. Finally, Oppenheimer Holdings Inc. assumed coverage on Sunoco in a research report on Tuesday, June 21st. They issued an “outperform” rating for the company. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $35.46.

The firm has a market capitalization of $3.42 billion and a PE ratio of 25.68. The firm has a 50 day moving average of $30.03 and a 200-day moving average of $31.63.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, August 5th will be given a dividend of $0.8255 per share. The ex-dividend date is Wednesday, August 3rd. This represents a $3.30 annualized dividend and a yield of 10.79%. This is an increase from Sunoco’s previous quarterly dividend of $0.82.

A number of institutional investors have added to or reduced their stakes in SUN. Bank of Montreal Can increased its position in 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 during the period. Jennison Associates LLC increased its position in 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 during the period. BNP Paribas Arbitrage SA increased 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 valued at $3,115,000 after buying an additional 60,149 shares during the period. Finally, Kayne Anderson Capital Advisors LP acquired a new position in Sunoco during the fourth quarter valued at $110,489,000.

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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