Sunoco (NYSE:SUN) Price Target Raised to $68.00

Sunoco (NYSE:SUN) had its price target upped by Mizuho from $66.00 to $68.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada increased their price objective on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays reduced their price target on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Sunoco currently has an average rating of “Moderate Buy” and an average target price of $63.83.

Sunoco Stock Down 7.4 %

SUN stock opened at $52.76 on Thursday. 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 firm has a market capitalization of $8.05 billion, a P/E ratio of 7.99 and a beta of 1.06. Sunoco has a 52-week low of $49.45 and a 52-week high of $59.67. The company’s 50 day simple moving average is $57.61 and its 200-day simple moving average is $54.61.

Sunoco (NYSE:SUN) last announced its 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, equities research analysts anticipate that Sunoco will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.8865 per share. This represents a $3.55 annualized dividend and a dividend yield of 6.72%. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, February 7th. Sunoco’s payout ratio is currently 53.64%.

Hedge Funds Weigh In On Sunoco

A number of hedge funds have recently added to or reduced their stakes in SUN. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Sunoco in the fourth quarter valued at approximately $31,000. Independence Bank of Kentucky acquired a new stake in shares of Sunoco in the 4th quarter valued at $53,000. Steward Partners Investment Advisory LLC boosted 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 worth $64,000 after purchasing an additional 182 shares in the last quarter. Global Retirement Partners LLC increased its position in Sunoco by 93.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock worth $84,000 after buying an additional 788 shares during the last quarter. Finally, Allworth Financial LP increased its position in Sunoco by 90.6% during the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock worth $95,000 after buying an additional 819 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Company Profile

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.