Sunoco LP (SUN) Lowered to “Sell” at Citigroup Inc.
SUN has been the subject of several other reports. Zacks Investment Research downgraded Sunoco from a hold rating to a strong sell rating in a research report on Thursday, October 13th. Vetr upgraded Sunoco from a hold rating to a buy rating and set a $31.33 target price for the company in a research report on Monday, September 12th. Mizuho initiated coverage on Sunoco in a research report on Thursday, September 29th. They issued a neutral rating and a $31.00 target price for the company. Credit Suisse Group AG reiterated a neutral rating and issued a $31.00 target price on shares of Sunoco in a research report on Tuesday, November 15th. Finally, Morgan Stanley initiated coverage on Sunoco in a research report on Monday, August 15th. They issued an equal weight rating and a $32.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $34.41.
Sunoco (NYSE:SUN) traded down 3.9280% during trading on Monday, hitting $22.0101. The stock had a trading volume of 1,828,763 shares. Sunoco has a 52 week low of $21.52 and a 52 week high of $40.06. The company has a 50-day moving average of $27.37 and a 200 day moving average of $29.87. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 15.3917 and a beta of 0.68.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, November 7th were given a $0.8255 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $3.30 annualized dividend and a yield of 14.41%. This is a boost from Sunoco’s previous quarterly dividend of $0.65. Sunoco’s payout ratio is currently 297.30%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Societe Generale acquired a new position in Sunoco during the second quarter valued at $2,107,000. State of New Jersey Common Pension Fund D boosted its position in Sunoco by 52.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 78,200 shares of the company’s stock valued at $2,342,000 after buying an additional 26,800 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in Sunoco by 56.4% in the second quarter. Duff & Phelps Investment Management Co. now owns 305,000 shares of the company’s stock valued at $9,135,000 after buying an additional 110,000 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in Sunoco during the second quarter valued at $6,819,000. Finally, Bank of Montreal Can acquired a new position in Sunoco during the second quarter valued at $15,544,000. 38.97% of the stock is currently owned by institutional investors and hedge funds.
Sunoco Company Profile
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the 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.
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