Sunoco LP (NYSE:SUN) has received an average recommendation of “Hold” from the fifteen ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $30.89.
A number of equities research analysts have recently issued reports on SUN shares. TheStreet raised shares of Sunoco from a “c+” rating to a “b” rating in a research note on Thursday, May 9th. ValuEngine downgraded shares of Sunoco from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Raymond James reduced their price target on shares of Sunoco from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday. Stifel Nicolaus started coverage on shares of Sunoco in a research note on Friday, July 19th. They issued a “hold” rating and a $35.00 price target on the stock. Finally, Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Sunoco in a research note on Thursday, May 9th.
Hedge funds have recently made changes to their positions in the stock. CENTRAL TRUST Co grew its holdings in Sunoco by 81.8% during the 1st quarter. CENTRAL TRUST Co now owns 1,000 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 450 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Sunoco during the 2nd quarter worth approximately $41,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Sunoco by 37.8% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,916 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 526 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Sunoco during the 2nd quarter worth approximately $203,000. Finally, Geode Capital Management LLC acquired a new position in Sunoco during the 4th quarter worth approximately $207,000. Hedge funds and other institutional investors own 28.89% of the company’s stock.
Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.31). The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Sunoco had a return on equity of 34.87% and a net margin of 1.21%. Sunoco’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. Sell-side analysts expect that Sunoco will post 2.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be issued a $0.8255 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 10.80%. The ex-dividend date is Monday, August 5th. Sunoco’s dividend payout ratio (DPR) is currently 127.91%.
Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.
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