Sunoco (NYSE:SUN) Sets New 1-Year High – Time to Buy?

Sunoco LP (NYSE:SUN)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $71.75 and last traded at $71.37, with a volume of 300051 shares. The stock had previously closed at $70.81.

Analyst Ratings Changes

Several brokerages recently weighed in on SUN. Citigroup boosted their price objective on shares of Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada boosted their price objective on shares of Sunoco to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 price objective on shares of Sunoco in a research note on Wednesday, May 6th. Finally, Mizuho boosted their price objective on shares of Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $74.13.

Sunoco Stock Performance

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92. The company’s 50-day moving average price is $66.03 and its two-hundred day moving average price is $59.52. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 18.46 and a beta of 0.46.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $1.14. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Sunoco’s revenue for the quarter was up 106.4% compared to the same quarter last year. On average, equities research analysts anticipate that Sunoco LP will post 7.92 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be given a dividend of $0.9899 per share. This represents a $3.96 annualized dividend and a dividend yield of 5.5%. This is a boost from Sunoco’s previous quarterly dividend of $0.93. The ex-dividend date is Friday, May 8th. Sunoco’s dividend payout ratio is currently 101.28%.

Institutional Investors Weigh In On Sunoco

Several large investors have recently modified their holdings of the company. Diversified Trust Co lifted its position in shares of Sunoco by 3.0% during the first quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company’s stock valued at $379,000 after purchasing an additional 168 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Sunoco by 2.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after purchasing an additional 205 shares in the last quarter. Quadrant Private Wealth Management LLC lifted its position in shares of Sunoco by 5.2% during the third quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company’s stock valued at $212,000 after purchasing an additional 209 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Sunoco by 2.1% during the second quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock valued at $552,000 after purchasing an additional 212 shares in the last quarter. Finally, Uhlmann Price Securities LLC lifted its position in shares of Sunoco by 2.8% during the third quarter. Uhlmann Price Securities LLC now owns 9,036 shares of the oil and gas company’s stock valued at $452,000 after purchasing an additional 250 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

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.