Analysts Set Sunoco LP (NYSE:SUN) Price Target at $63.83

Sunoco LP (NYSE:SUN) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $63.83.

A number of research firms recently weighed in on SUN. Royal Bank of Canada upped their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays boosted their price objective on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Mizuho raised their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming purchased a new stake in shares of Sunoco in the 4th quarter valued at $102,000. Recurrent Investment Advisors LLC lifted its stake in Sunoco by 2.9% in 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 purchasing an additional 24,686 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $134,192,000 after buying an additional 128,042 shares during the last quarter. Cresset Asset Management LLC grew 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 valued at $571,000 after buying an additional 4,109 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Sunoco by 2.8% in the fourth quarter. Cetera Investment Advisers now owns 33,599 shares of the oil and gas company’s stock worth $1,728,000 after buying an additional 916 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Sunoco Price Performance

Sunoco stock opened at $58.00 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. Sunoco has a one year low of $49.45 and a one year high of $64.89. The firm has a market capitalization of $8.85 billion, a P/E ratio of 8.79 and a beta of 1.36. The business has a fifty day moving average price of $55.27 and a 200-day moving average price of $53.89.

Sunoco (NYSE:SUN) last posted its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Sunoco will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.8865 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.11%. Sunoco’s payout ratio is presently 53.64%.

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.