Sunoco LP (NYSE:SUN) Receives $63.67 Average PT from Analysts

Sunoco LP (NYSE:SUN) has earned an average recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $63.50.

Several research firms recently commented on SUN. Barclays reduced their price target on Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho upped their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th.

Institutional Investors Weigh In On Sunoco

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC increased its holdings in Sunoco by 17.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 182 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Sunoco by 1.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 190 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Sunoco by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock valued at $1,355,000 after acquiring an additional 194 shares during the last quarter. World Investment Advisors LLC raised its position in shares of Sunoco by 5.6% during the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after acquiring an additional 200 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Sunoco by 2.6% during the 3rd quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock valued at $517,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Price Performance

Sunoco stock opened at $57.92 on Tuesday. The firm has a fifty day moving average of $57.49 and a 200-day moving average of $54.54. Sunoco has a 52-week low of $49.45 and a 52-week high of $60.61. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $8.84 billion, a P/E ratio of 8.78 and a beta of 1.35.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. As a group, analysts predict that Sunoco will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.8865 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend was Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is currently 53.64%.

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.