Sunoco LP (NYSE:SUN) Given Average Rating of “Buy” by Brokerages

Sunoco LP (NYSE:SUN) has earned a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $74.1250.

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Stifel Nicolaus increased their price objective on Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Mizuho increased their price objective on Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price objective on shares of Sunoco in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Sunoco from a “hold” rating to a “buy” rating in a report on Saturday, May 16th.

Institutional Trading of Sunoco

A number of hedge funds have recently modified their holdings of the business. Compass Wealth Management LLC purchased a new stake in shares of Sunoco during the third quarter worth $644,000. Lee Financial Co raised its holdings in shares of Sunoco by 573.1% during the third quarter. Lee Financial Co now owns 25,705 shares of the oil and gas company’s stock worth $1,286,000 after acquiring an additional 21,886 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Sunoco during the third quarter worth $1,161,000. Barclays PLC raised its holdings in shares of Sunoco by 33.7% during the third quarter. Barclays PLC now owns 593,970 shares of the oil and gas company’s stock worth $29,704,000 after acquiring an additional 149,732 shares in the last quarter. Finally, Cooperman Leon G raised its holdings in shares of Sunoco by 10.2% during the third quarter. Cooperman Leon G now owns 1,620,000 shares of the oil and gas company’s stock worth $81,016,000 after acquiring an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of NYSE:SUN opened at $66.55 on Thursday. Sunoco has a one year low of $47.98 and a one year high of $72.88. The stock has a fifty day moving average of $66.87 and a 200-day moving average of $60.38. The company has a market capitalization of $13.63 billion, a PE ratio of 17.02 and a beta of 0.46. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40.

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

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.9899 dividend. The ex-dividend date was Friday, May 8th. This is an increase from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.9%. Sunoco’s dividend payout ratio is currently 101.28%.

Sunoco Company Profile

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.