Sunoco LP (NYSE:SUN)‘s stock had its “buy” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday. They currently have a $32.00 price objective on the oil and gas company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 6.99% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Vetr upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $26.29 price objective on the stock in a research note on Tuesday, March 28th. TheStreet upgraded shares of Sunoco from a “d+” rating to a “c-” rating in a research note on Wednesday, April 26th. Stephens downgraded shares of Sunoco from an “overweight” rating to an “equal weight” rating in a research note on Monday, March 20th. FBR & Co reiterated a “hold” rating on shares of Sunoco in a research note on Saturday, April 1st. Finally, Jefferies Group LLC upgraded shares of Sunoco from an “underperform” rating to a “hold” rating and increased their price objective for the company from $20.00 to $29.00 in a research note on Monday, April 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.97.

Analyst Recommendations for Sunoco (NYSE:SUN)

Shares of Sunoco (NYSE:SUN) opened at 29.91 on Tuesday. The stock’s market capitalization is $3.47 billion. Sunoco has a one year low of $21.01 and a one year high of $31.50. The stock’s 50 day moving average is $30.11 and its 200-day moving average is $27.58.

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Several hedge funds have recently added to or reduced their stakes in SUN. OppenheimerFunds Inc. boosted its stake in Sunoco by 1.0% in the first quarter. OppenheimerFunds Inc. now owns 13,386,079 shares of the oil and gas company’s stock worth $323,542,000 after buying an additional 129,040 shares during the period. Bank of America Corp DE boosted its stake in Sunoco by 82.4% in the first quarter. Bank of America Corp DE now owns 1,852,879 shares of the oil and gas company’s stock worth $44,784,000 after buying an additional 836,902 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in Sunoco by 3.4% in the first quarter. Duff & Phelps Investment Management Co. now owns 758,000 shares of the oil and gas company’s stock worth $18,321,000 after buying an additional 25,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Sunoco by 534.9% in the first quarter. JPMorgan Chase & Co. now owns 461,671 shares of the oil and gas company’s stock worth $11,158,000 after buying an additional 388,951 shares during the period. Finally, Adams Asset Advisors LLC boosted its stake in Sunoco by 2.3% in the first quarter. Adams Asset Advisors LLC now owns 289,757 shares of the oil and gas company’s stock worth $7,003,000 after buying an additional 6,579 shares during the period. 27.14% of the stock is currently owned by institutional investors and hedge funds.

About Sunoco

Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its 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. The Company operates through two segments: wholesale and retail.

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