Sunoco (NYSE:SUN) Sets New 52-Week High – Should You Buy?

Sunoco LP (NYSE:SUN) hit a new 52-week high on Wednesday . The company traded as high as $59.88 and last traded at $59.2150, with a volume of 46270 shares changing hands. The stock had previously closed at $59.10.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James Financial raised 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. Zacks Research cut shares of Sunoco from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Sunoco from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings upgraded shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company set a $65.00 price objective on Sunoco and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Sunoco has a consensus rating of “Buy” and an average price target of $65.60.

Sunoco Trading Up 0.7%

The firm’s 50 day moving average is $55.28 and its 200 day moving average is $53.26. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50. The company has a market capitalization of $12.18 billion, a PE ratio of 20.32 and a beta of 0.51.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be given a $0.9317 dividend. The ex-dividend date is Friday, February 6th. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 dividend on an annualized basis and a dividend yield of 6.3%. Sunoco’s dividend payout ratio is presently 127.30%.

Institutional Trading of Sunoco

Several large investors have recently modified their holdings of SUN. Kingsview Wealth Management LLC increased its holdings in Sunoco by 2.2% during the 4th 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 during the period. Quadrant Private Wealth Management LLC lifted its stake in Sunoco by 5.2% in the third quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company’s stock worth $212,000 after acquiring an additional 209 shares during the period. IHT Wealth Management LLC boosted its holdings in Sunoco by 2.1% in 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 acquiring an additional 212 shares in the last quarter. Uhlmann Price Securities LLC increased its position in Sunoco by 2.8% during the 3rd 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 during the period. Finally, Glenmede Investment Management LP raised its holdings in Sunoco by 0.7% in the 3rd quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company’s stock worth $1,955,000 after purchasing an additional 288 shares in the last quarter. 24.29% of the stock is owned by 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.