Sunoco LP (NYSE:SUN) Receives $63.67 Consensus Price Target from Analysts

Shares of Sunoco LP (NYSE:SUN) have earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $63.50.

SUN has been the topic of several recent research reports. Mizuho upped their price objective on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays decreased their price target on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday.

Sunoco Trading Up 0.9 %

Shares of NYSE SUN opened at $59.14 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The stock has a market capitalization of $9.03 billion, a P/E ratio of 8.96 and a beta of 1.35. The business has a fifty day moving average price of $57.42 and a 200 day moving average price of $54.49. Sunoco has a 1-year low of $49.45 and a 1-year high of $60.61.

Sunoco (NYSE:SUN) last posted its quarterly earnings data 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%. Equities research analysts expect that Sunoco will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.8865 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.00%. This is a boost from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio (DPR) is presently 53.64%.

Hedge Funds Weigh In On Sunoco

Several hedge funds have recently bought and sold shares of SUN. Wealth Enhancement Advisory Services LLC increased its holdings in Sunoco by 13.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,983 shares of the oil and gas company’s stock worth $256,000 after purchasing an additional 592 shares during the period. State of Wyoming acquired a new stake in Sunoco during the 4th quarter worth $102,000. Recurrent Investment Advisors LLC grew its holdings in shares of Sunoco by 2.9% during the fourth quarter. Recurrent Investment Advisors LLC now owns 888,862 shares of the oil and gas company’s stock worth $45,723,000 after buying an additional 24,686 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sunoco by 5.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company’s stock worth $134,192,000 after purchasing an additional 128,042 shares during the last quarter. Finally, Cresset Asset Management LLC increased its stake in shares of Sunoco by 58.8% during the fourth quarter. Cresset Asset Management LLC now owns 11,097 shares of the oil and gas company’s stock worth $571,000 after acquiring an additional 4,109 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.

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.