Sunoco LP (NYSE:SUN) Receives $64.33 Consensus Target Price from Analysts

Shares of Sunoco LP (NYSE:SUN) have received an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $64.33.

SUN has been the topic of several recent analyst reports. Mizuho increased their price objective on shares of Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. JPMorgan Chase & Co. increased their price objective on Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Barclays cut their target price on Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th.

Institutional Investors Weigh In On Sunoco

Several institutional investors have recently added to or reduced their stakes in SUN. Atria Wealth Solutions Inc. purchased a new position in shares of Sunoco during the fourth quarter worth approximately $256,000. Virtu Financial LLC purchased a new stake in Sunoco in the 4th quarter valued at approximately $239,000. Icon Advisers Inc. Co. acquired a new position in Sunoco in the 4th quarter valued at about $1,852,000. Van ECK Associates Corp lifted its stake in shares of Sunoco by 41.1% during the fourth quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company’s stock valued at $1,550,000 after buying an additional 8,782 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Sunoco during the 4th quarter worth $17,739,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of NYSE SUN opened at $56.21 on Wednesday. The company has a 50 day simple moving average of $56.56 and a two-hundred day simple moving average of $55.31. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 8.52 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. Sunoco has a 12 month low of $48.00 and a 12 month high of $59.88.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.48). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter in the prior year, the company posted $2.26 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, analysts predict that Sunoco will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be given a dividend of $0.8976 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.89. This represents a $3.59 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend is Friday, May 9th. Sunoco’s payout ratio is 64.68%.

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.