Sunoco LP (NYSE:SUN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Sunoco LP (NYSE:SUN) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $63.43.

A number of equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Mizuho upped their price objective on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Barclays increased their price objective on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th.

Sunoco Stock Down 2.7 %

SUN stock opened at $56.31 on Monday. The company’s 50 day moving average price is $53.91 and its 200 day moving average price is $53.37. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 12.94 and a beta of 1.36. Sunoco has a fifty-two week low of $49.45 and a fifty-two week high of $64.89. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a $0.8865 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.30%. Sunoco’s dividend payout ratio is 81.38%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SUN. Independence Bank of Kentucky purchased a new position in shares of Sunoco during the fourth quarter worth approximately $53,000. Steward Partners Investment Advisory LLC grew its position in Sunoco by 17.1% during the 4th 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 during the last quarter. Global Retirement Partners LLC increased its stake in Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 788 shares during the period. Allworth Financial LP raised its holdings in shares of Sunoco by 90.6% in the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 819 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Sunoco by 112.5% during the fourth quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock worth $126,000 after buying an additional 1,295 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.