Traders Sell Sunoco LP (SUN) on Strength (SUN)
Investors sold shares of Sunoco LP (NYSE:SUN) on strength during trading on Monday. $4.05 million flowed into the stock on the tick-up and $47.53 million flowed out of the stock on the tick-down, for a money net flow of $43.48 million out of the stock. Of all equities tracked, Sunoco had the 0th highest net out-flow for the day. Sunoco traded up $0.49 for the day and closed at $30.54
SUN has been the subject of a number of research analyst reports. Vetr raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $37.22 price target for the company in a report on Monday, May 2nd. Royal Bank Of Canada reduced their target price on shares of Sunoco from $51.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, May 11th. Jefferies Group cut shares of Sunoco from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $34.00 to $24.00 in a report on Wednesday, June 8th. Barclays PLC reissued an “overweight” rating and set a $32.00 target price (down previously from $37.00) on shares of Sunoco in a report on Thursday, June 16th. Finally, Oppenheimer Holdings Inc. initiated coverage on shares of Sunoco in a report on Tuesday, June 21st. They set an “outperform” rating for the company. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Sunoco has a consensus rating of “Hold” and a consensus price target of $35.77.
The company has a market cap of $3.41 billion and a price-to-earnings 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. Stockholders of record on Friday, August 5th were issued a $0.8255 dividend. This represents a $3.30 annualized dividend and a dividend yield of 10.81%. The ex-dividend date of this dividend was Wednesday, August 3rd. This is a boost from Sunoco’s previous quarterly dividend of $0.82.
An institutional investor recently raised its position 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 disclosure with the SEC. The firm 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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