Investors Sell Shares of Sunoco LP (SUN) on Strength (SUN)
Investors sold shares of Sunoco LP (NYSE:SUN) on strength during trading hours on Tuesday. $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 topic of a number of research reports. Jefferies Group downgraded shares of Sunoco from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $34.00 to $24.00 in a report on Wednesday, June 8th. Robert W. Baird downgraded shares of Sunoco from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $30.00 in a report on Thursday, August 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $44.00 price target on shares of Sunoco in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. initiated coverage on shares of Sunoco in a report on Tuesday, June 21st. They issued an “outperform” rating on the stock. Finally, Barclays PLC reiterated an “overweight” rating and issued a $32.00 price target (down from $37.00) on shares of Sunoco in a report on Thursday, June 16th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $35.77.
The stock has a market capitalization of $3.38 billion and a PE ratio of 25.39. The company has a 50-day moving average price of $30.43 and a 200-day moving average price of $31.77.
The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, August 5th were issued a dividend of $0.8255 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.82. This represents a $3.30 dividend on an annualized basis and a yield of 10.92%. The ex-dividend date of this dividend was Wednesday, August 3rd.
An institutional investor recently raised its position in Sunoco stock. Jennison Associates LLC increased its position in Sunoco LP (NYSE:SUN) by 48.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.
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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