Brokerages Set Sunoco LP (NYSE:SUN) Target Price at $50.29

Posted by on May 23rd, 2023

Shares of Sunoco LP (NYSE:SUN – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $50.29.

Several research firms recently issued reports on SUN. Barclays upped their price objective on Sunoco from $48.00 to $51.00 in a research report on Tuesday, April 18th. Raymond James boosted their target price on Sunoco from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Stifel Nicolaus raised their price target on shares of Sunoco from $49.00 to $50.00 in a report on Thursday, May 11th. Mizuho boosted their price objective on shares of Sunoco from $48.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Finally, StockNews.com initiated coverage on shares of Sunoco in a report on Thursday, May 18th. They issued a “buy” rating on the stock.

Hedge Funds Weigh In On Sunoco

A number of institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Sunoco in the fourth quarter worth approximately $26,000. Steward Partners Investment Advisory LLC bought a new position in Sunoco in the 1st quarter worth $26,000. Key Financial Inc boosted its holdings in Sunoco by 7,627.3% in the 1st quarter. Key Financial Inc now owns 850 shares of the oil and gas company’s stock worth $37,000 after buying an additional 839 shares during the period. Harbour Investments Inc. increased its stake in Sunoco by 62.7% in the 1st quarter. Harbour Investments Inc. now owns 965 shares of the oil and gas company’s stock worth $42,000 after buying an additional 372 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in Sunoco during the fourth quarter valued at about $43,000. 16.16% of the stock is owned by institutional investors.

Sunoco Trading Up 0.7 %

Shares of NYSE SUN opened at $44.41 on Friday. The stock has a market cap of $4.46 billion, a P/E ratio of 11.75 and a beta of 1.33. The company has a debt-to-equity ratio of 3.47, a current ratio of 1.48 and a quick ratio of 0.83. Sunoco has a 1 year low of $34.26 and a 1 year high of $48.59. The firm has a 50-day moving average of $43.98 and a 200 day moving average of $44.32.

Sunoco (NYSE:SUN – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.20. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Sunoco had a return on equity of 41.03% and a net margin of 1.56%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 earnings per share. As a group, sell-side analysts expect that Sunoco will post 4.62 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 8th were issued a dividend of $0.842 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.83. This represents a $3.37 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date was Friday, May 5th. Sunoco’s dividend payout ratio is currently 89.15%.

About Sunoco

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Sunoco LP engages in the management and distribution of fuel products. It operates through Fuel Distribution and Marketing and All Other segments. The Fuel Distribution and Marketing segment supplies fuels and other petroleum products, which it supplies to third-party dealers and distributors, independent operators of commission agent, other commercial consumers of motor fuel and to retail locations.

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