Sunoco LP (NYSE:SUN) Stock Has Consensus Price Target of $79.00 According to Analysts

by · The Markets Daily

Sunoco LP (NYSE:SUN – Get Free Report) has been given a consensus rating of “Buy” by the ten brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $79.00.

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sunoco in a report on Tuesday, August 18th. Barclays increased their price objective 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. Mizuho set a $83.00 target price on shares of Sunoco in a report on Friday, July 24th. Wall Street Zen downgraded Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Sunoco from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, July 24th.

Read Our Latest Report on SUN

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Glen Eagle Advisors LLC raised its stake in Sunoco by 496.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 710 shares in the last quarter. Compass Financial Management LLC bought a new position in shares of Sunoco in the second quarter worth $60,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Sunoco in the first quarter worth $78,000. Western Wealth Management LLC acquired a new position in shares of Sunoco during the first quarter valued at $138,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Sunoco during the second quarter valued at $190,000. 24.29% of the stock is currently owned by institutional investors.

Sunoco Stock Performance

Shares of SUN opened at $75.20 on Wednesday. The stock has a market capitalization of $15.40 billion, a PE ratio of 16.64 and a beta of 0.41. The business’s fifty day moving average price is $75.69 and its 200 day moving average price is $69.82. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 0.83. Sunoco has a 12-month low of $48.60 and a 12-month high of $80.22.

Sunoco (NYSE:SUN – Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($1.56). The business had revenue of $14.26 billion for the quarter, compared to the consensus estimate of $11.05 billion. Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The firm’s revenue for the quarter was up 164.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. Equities research analysts forecast that Sunoco will post 9.57 EPS for the current year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were issued a $1.0023 dividend. This is a positive change 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 dividend yield of 5.3%. Sunoco’s dividend payout ratio (DPR) is 88.72%.

About Sunoco

(Get Free Report)

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.

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