Brokerages Set Sunoco LP (NYSE:SUN) PT at $62.75

Sunoco LP (NYSE:SUN) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $62.75.

Several equities research analysts have issued reports on SUN shares. Barclays increased their price target on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price target on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada increased their price objective on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th.

Hedge Funds Weigh In On Sunoco

A number of large investors have recently modified their holdings of the business. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco in the second quarter valued at about $32,000. First Horizon Advisors Inc. bought a new position in Sunoco in the second quarter valued at approximately $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of Sunoco during the 2nd quarter worth approximately $46,000. HHM Wealth Advisors LLC bought a new stake in shares of Sunoco during the 2nd quarter worth approximately $93,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sunoco during the third quarter worth $165,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Performance

SUN stock opened at $52.11 on Friday. Sunoco has a twelve month low of $49.45 and a twelve month high of $64.89. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The company has a market cap of $7.94 billion, a P/E ratio of 11.98 and a beta of 1.33. The business’s fifty day moving average is $53.13 and its 200-day moving average is $53.79.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 EPS. Equities research analysts forecast that Sunoco will post 7.16 EPS for the current year.

Sunoco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio is presently 80.46%.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.