Sunoco LP (SUN) Shares Up 3.1%
Sunoco LP (NYSE:SUN) shares shot up 3.1% on Friday . The stock traded as high as $30.85 and last traded at $30.58, with a volume of 542,651 shares trading hands. The stock had previously closed at $29.67.
Several brokerages recently weighed in on SUN. Vetr reissued a “strong-buy” rating on shares of Sunoco in a research note on Thursday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $44.00 price objective on shares of Sunoco in a research note on Tuesday, August 9th. Credit Suisse Group AG set a $33.00 price objective on shares of Sunoco and gave the company a “hold” rating in a research note on Saturday, August 6th. Barclays PLC dropped their price objective on shares of Sunoco from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, August 5th. Finally, Robert W. Baird downgraded shares of Sunoco from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $30.00 in a research note on Thursday, August 4th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.46.
The company has a market capitalization of $3.42 billion and a PE ratio of 25.68. The firm has a 50-day moving average price of $30.03 and a 200-day moving average price of $31.63.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, August 5th will be given a $0.8255 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 10.79%.
Several institutional investors recently added to or reduced their stakes in SUN. BNP Paribas Arbitrage SA raised 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 period. Jennison Associates LLC raised 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 period. Finally, Kayne Anderson Capital Advisors LP bought a new position in Sunoco during the fourth quarter worth $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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