Sunoco (NYSE:SUN) Hits New 12-Month High – Here’s Why

Shares of Sunoco LP (NYSE:SUN) hit a new 52-week high on Tuesday . The company traded as high as $63.59 and last traded at $61.99, with a volume of 457977 shares changing hands. The stock had previously closed at $62.54.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Zacks Research cut Sunoco from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Stifel Nicolaus boosted their target price on shares of Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company set a $65.00 price target on shares of Sunoco and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Raymond James Financial upgraded shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective on the stock in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $65.83.

Sunoco Stock Performance

The firm’s 50-day moving average price is $56.48 and its two-hundred day moving average price is $53.69. The company has a quick ratio of 0.78, a current ratio of 1.38 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $12.68 billion, a PE ratio of 27.31 and a beta of 0.51.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The business had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $9.65 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 63.2% compared to the same quarter last year. As a group, research analysts predict that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.9317 per share. The ex-dividend date was Friday, February 6th. This represents a $3.73 annualized dividend and a dividend yield of 6.0%. This is an increase from Sunoco’s previous quarterly dividend of $0.92. Sunoco’s dividend payout ratio is presently 164.32%.

Institutional Investors Weigh In On Sunoco

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in Sunoco by 6.4% during the first quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company’s stock valued at $9,239,000 after acquiring an additional 9,592 shares in the last quarter. Carnegie Investment Counsel boosted its holdings in Sunoco by 12.3% in the second quarter. Carnegie Investment Counsel now owns 5,847 shares of the oil and gas company’s stock worth $313,000 after purchasing an additional 642 shares in the last quarter. Bessemer Group Inc. increased its position in Sunoco by 41.7% during the second quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock worth $72,000 after buying an additional 400 shares during the last quarter. Texas Yale Capital Corp. lifted its position in shares of Sunoco by 11.3% in the second quarter. Texas Yale Capital Corp. now owns 90,666 shares of the oil and gas company’s stock worth $4,859,000 after buying an additional 9,190 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Sunoco by 95.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock worth $74,000 after acquiring an additional 675 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.