Sunoco LP (NYSE:SUN) Receives $65.00 Average Price Target from Brokerages

Sunoco LP (NYSE:SUN) has received a consensus rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $65.00.

Several analysts recently issued reports on SUN shares. Weiss Ratings upgraded shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Raymond James Financial upgraded shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a research note on Monday, January 5th. Wells Fargo & Company set a $65.00 price objective on Sunoco and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Zacks Research raised Sunoco to a “strong-buy” rating in a report on Thursday, January 1st. Finally, Barclays reiterated an “overweight” rating and set a $57.00 target price on shares of Sunoco in a research report on Monday, November 17th.

Sunoco Stock Down 0.1%

Sunoco stock opened at $57.57 on Friday. Sunoco has a one year low of $47.98 and a one year high of $59.88. The stock has a fifty day moving average of $53.94 and a 200 day moving average of $52.69. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.50 and a current ratio of 3.11. The stock has a market cap of $11.78 billion, a PE ratio of 19.65 and a beta of 0.49.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.90). Sunoco had a net margin of 2.61% and a return on equity of 13.94%. The firm had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Sunoco will post 10.65 EPS for the current year.

Institutional Investors Weigh In On Sunoco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUN. Chickasaw Capital Management LLC boosted its stake in shares of Sunoco by 4.7% in the second quarter. Chickasaw Capital Management LLC now owns 144,429 shares of the oil and gas company’s stock worth $7,740,000 after acquiring an additional 6,429 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Sunoco by 470.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 113,263 shares of the oil and gas company’s stock valued at $6,070,000 after purchasing an additional 93,394 shares during the period. Neuberger Berman Group LLC lifted its holdings in Sunoco by 4.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 670,269 shares of the oil and gas company’s stock worth $35,920,000 after purchasing an additional 25,757 shares in the last quarter. Midwest Trust Co bought a new position in Sunoco in the 2nd quarter worth approximately $407,000. Finally, Wealth Alliance LLC bought a new position in Sunoco in the 2nd quarter worth approximately $298,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

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.