Sunoco LP (NYSE:SUN) Receives Average Rating of “Buy” from Analysts

Sunoco LP (NYSE:SUN) has been assigned an average rating of “Buy” from the ten brokerages 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 twelve-month target price among brokers that have covered the stock in the last year is $79.00.

SUN has been the topic of a number of analyst reports. Barclays upped their price target on shares of Sunoco from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sunoco in a report on Tuesday, August 18th. Citigroup upped their target price on shares of Sunoco from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Sunoco from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company increased their price target on shares of Sunoco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th.

Institutional Trading of Sunoco

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its stake in shares of Sunoco by 12.5% in the second quarter. Envestnet Asset Management Inc. now owns 82,908 shares of the oil and gas company’s stock worth $5,596,000 after purchasing an additional 9,236 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Sunoco during the second quarter valued at $243,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Sunoco during the second quarter valued at $190,000. NewEdge Advisors LLC increased its holdings in Sunoco by 185.0% in the 2nd quarter. NewEdge Advisors LLC now owns 31,305 shares of the oil and gas company’s stock worth $2,113,000 after buying an additional 20,319 shares in the last quarter. Finally, Waverly Advisors LLC increased its holdings in Sunoco by 1.1% in the 2nd quarter. Waverly Advisors LLC now owns 133,448 shares of the oil and gas company’s stock worth $9,008,000 after buying an additional 1,390 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Up 0.6%

Shares of NYSE:SUN opened at $75.20 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.95. The stock has a fifty day simple moving average of $75.69 and a two-hundred day simple moving average of $69.86. Sunoco has a 12-month low of $48.60 and a 12-month high of $80.22. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 16.64 and a beta of 0.41.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). The company had revenue of $14.26 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Sunoco had a return on equity of 18.78% and a net margin of 2.88%.The company’s revenue was up 164.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. On average, research analysts anticipate that Sunoco will post 9.57 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a $1.0023 dividend. This is a boost from Sunoco’s previous quarterly dividend of $0.9899. The ex-dividend date of this dividend was Friday, August 7th. This represents a $4.01 annualized dividend and a yield of 5.3%. Sunoco’s payout ratio is currently 88.72%.

Sunoco Company Profile

Sunoco LP (NYSE:SUN) is a publicly traded master limited partnership focused on the distribution, transportation and storage of motor fuels and other petroleum products. The company supplies gasoline, diesel and other fuels to independent dealers, commercial customers, distributors and retail operators, supporting fuel sales under the Sunoco brand and other brands.

Sunoco operates a broad logistics network that includes fuel terminals, pipelines, storage facilities, marine assets and other transportation infrastructure.