Sunoco LP (TXSE:SUN) Stock Has Consensus Target Price of $80.12

Shares of Sunoco LP (TXSE:SUN) have been assigned a consensus rating of “Buy” from the ten research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $80.12.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Sunoco from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Weiss Ratings restated a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th. Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Mizuho set a $83.00 price target on shares of Sunoco in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. started coverage on shares of Sunoco in a report on Tuesday, October 20th. They set an “overweight” rating and a $87.00 price target on the stock.

Sunoco Stock Up 3.4%

SUN opened at $65.34 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.95. The firm has a 50 day moving average price of $73.05 and a 200-day moving average price of $68.72. Sunoco has a twelve month low of $50.20 and a twelve month high of $80.22. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of 14.46 and a beta of 0.42.

Sunoco (TXSE:SUN) last issued its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $2.07 earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.39). Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The company had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $11.76 billion. During the same quarter last year, the company earned $0.64 EPS. Equities research analysts forecast that Sunoco will post 10.60 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be issued a $1.0148 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $4.06 annualized dividend and a yield of 6.2%. This is an increase from Sunoco’s previous quarterly dividend of $1.0023. Sunoco’s payout ratio is currently 68.07%.

Insider Transactions at Sunoco

In other Sunoco news, Director David Skidmore purchased 1,500 shares of the business’s stock in a transaction on Friday, November 6th. The stock was acquired at an average price of $61.53 per share, for a total transaction of $92,295.00. Following the purchase, the director owned 20,748 shares of the company’s stock, valued at approximately $1,276,624.44. This represents a 7.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Sunoco

Large investors have recently made changes to their positions in the business. Recurrent Investment Advisors LLC raised its stake in Sunoco by 51.5% during the 1st quarter. Recurrent Investment Advisors LLC now owns 1,027,877 shares of the oil and gas company’s stock valued at $66,781,000 after purchasing an additional 349,254 shares during the period. Infrastructure Capital Advisors LLC boosted its stake in Sunoco by 34.1% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 972,935 shares of the oil and gas company’s stock worth $63,212,000 after purchasing an additional 247,569 shares during the period. Allianz Asset Management GmbH boosted its stake in Sunoco by 12.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 369,073 shares of the oil and gas company’s stock worth $24,912,000 after purchasing an additional 40,758 shares during the period. International Assets Investment Management LLC grew its holdings in Sunoco by 2,633.2% during the 3rd quarter. International Assets Investment Management LLC now owns 300,000 shares of the oil and gas company’s stock valued at $21,861,000 after buying an additional 289,024 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Sunoco by 32.0% during the 1st quarter. Bank of America Corp DE now owns 204,609 shares of the oil and gas company’s stock valued at $13,293,000 after buying an additional 49,589 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Company Profile

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand. Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.