Jefferies Group Comments on Sunoco LP’s FY2018 Earnings (SUN)
Sunoco LP (NYSE:SUN) – Analysts at Jefferies Group upped their FY2018 earnings estimates for shares of Sunoco in a research note issued on Wednesday. Jefferies Group analyst C. Sighinolfi now forecasts that the oil and gas company will post earnings of $3.12 per share for the year, up from their previous forecast of $2.97. Jefferies Group currently has a “Hold” rating and a $29.00 price target on the stock.
SUN has been the topic of a number of other reports. Vetr upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $26.29 target price on the stock in a report on Tuesday, March 28th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Sunoco in a report on Thursday, March 30th. They issued a “sell” rating and a $21.00 target price on the stock. Credit Suisse Group restated an “outperform” rating and issued a $37.00 target price (up from $30.00) on shares of Sunoco in a report on Sunday, April 9th. FBR & Co upped their target price on shares of Sunoco from $28.00 to $29.00 and gave the company a “mkt perform” rating in a report on Wednesday, April 12th. Finally, Stephens lowered shares of Sunoco from an “overweight” rating to an “equal weight” rating in a report on Monday, March 20th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $31.11.
Sunoco (NYSE SUN) traded up 0.88% during midday trading on Friday, reaching $30.94. 169,030 shares of the company traded hands. Sunoco has a 12 month low of $21.01 and a 12 month high of $31.50. The company’s 50-day moving average price is $30.15 and its 200 day moving average price is $27.86. The firm’s market capitalization is $3.59 billion.
A number of hedge funds have recently bought and sold shares of SUN. Envestnet Asset Management Inc. increased its stake in Sunoco by 1.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,615 shares of the oil and gas company’s stock worth $312,000 after buying an additional 133 shares during the period. Guggenheim Capital LLC increased its stake in Sunoco by 8.4% in the fourth quarter. Guggenheim Capital LLC now owns 23,615 shares of the oil and gas company’s stock worth $635,000 after buying an additional 1,829 shares during the period. Creative Planning increased its stake in Sunoco by 153.3% in the first quarter. Creative Planning now owns 49,649 shares of the oil and gas company’s stock worth $1,200,000 after buying an additional 30,049 shares during the period. Atria Investments LLC increased its stake in Sunoco by 2.1% in the first quarter. Atria Investments LLC now owns 11,393 shares of the oil and gas company’s stock worth $275,000 after buying an additional 233 shares during the period. Finally, Baldwin Brothers Inc. MA increased its stake in Sunoco by 25.0% in the first quarter. Baldwin Brothers Inc. MA now owns 7,500 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,500 shares during the period. 27.14% of the stock is owned by hedge funds and other institutional investors.
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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