Sunoco LP (SUN) Sees Strong Trading Volume
Shares of Sunoco LP (NYSE:SUN) saw strong trading volume on Monday . 2,105,088 shares were traded during mid-day trading, an increase of 233% from the previous session’s volume of 632,728 shares.The stock last traded at $30.54 and had previously closed at $30.05.
A number of analysts recently issued reports on the company. Vetr upgraded Sunoco from a “hold” rating to a “buy” rating and set a $37.22 price target for the company in a research report on Monday, May 2nd. Credit Suisse Group AG set a $33.00 target price on Sunoco and gave the stock a “hold” rating in a research report on Saturday, August 6th. Robert W. Baird downgraded 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 research report on Thursday, August 4th. 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 research report on Wednesday, May 11th. Finally, Zacks Investment Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $35.77.
The company has a market cap of $3.41 billion and a P/E ratio of 25.64. The stock’s 50-day moving average is $30.41 and its 200-day moving average is $31.72.
The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, August 5th were issued a $0.8255 dividend. This represents a $3.30 annualized dividend and a yield of 10.81%. The ex-dividend date was Wednesday, August 3rd. This is an increase from Sunoco’s previous quarterly dividend of $0.82.
A hedge fund recently raised its stake in Sunoco stock. Jennison Associates LLC increased its stake in shares of Sunoco LP (NYSE:SUN) by 48.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,830 shares of the company’s stock after buying an additional 30,717 shares during the period. Jennison Associates LLC owned approximately 0.13% of Sunoco worth $3,717,000 at the end of the most recent 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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