Sunoco LP (SUN) Receives $30.97 Average Target Price from Analysts
Sunoco LP (NYSE:SUN) has received a consensus rating of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $31.25.
A number of research firms have recently issued reports on SUN. Jefferies Group LLC reiterated a “hold” rating and issued a $30.00 target price (up previously from $29.00) on shares of Sunoco in a research note on Monday. Royal Bank Of Canada reissued an “outperform” rating and issued a $35.00 price target (up previously from $32.00) on shares of Sunoco in a report on Wednesday, September 6th. BidaskClub raised shares of Sunoco from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. UBS AG reissued a “neutral” rating and issued a $30.00 price target (up previously from $28.00) on shares of Sunoco in a report on Monday, August 14th. Finally, Mizuho lowered shares of Sunoco from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Monday, July 10th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cypress Asset Management Inc. TX grew its holdings in Sunoco by 0.7% during the 1st quarter. Cypress Asset Management Inc. TX now owns 11,036 shares of the oil and gas company’s stock worth $267,000 after acquiring an additional 74 shares during the period. SRS Capital Advisors Inc. grew its holdings in Sunoco by 6.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 7,123 shares of the oil and gas company’s stock worth $172,000 after acquiring an additional 420 shares during the period. Alliancebernstein L.P. grew its holdings in Sunoco by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 12,679 shares of the oil and gas company’s stock worth $388,000 after acquiring an additional 710 shares during the period. First Heartland Consultants Inc. grew its holdings in Sunoco by 4.9% during the 1st quarter. First Heartland Consultants Inc. now owns 24,716 shares of the oil and gas company’s stock worth $597,000 after acquiring an additional 1,159 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Sunoco by 24.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock worth $191,000 after acquiring an additional 1,213 shares during the period. 30.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Sunoco (NYSE SUN) traded down 0.47% during trading on Wednesday, reaching $31.71. The company’s stock had a trading volume of 138,337 shares. Sunoco has a 12 month low of $21.01 and a 12 month high of $32.67. The company’s market capitalization is $3.15 billion. The company’s 50-day moving average is $31.30 and its 200-day moving average is $29.28.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th were issued a dividend of $0.8255 per share. This represents a $3.30 dividend on an annualized basis and a yield of 10.41%. The ex-dividend date of this dividend was Thursday, August 3rd. Sunoco’s dividend payout ratio is presently -37.37%.
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Sunoco Company Profile
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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