Sunoco LP (SUN) Receives $30.63 Average Price Target from Analysts

Shares of Sunoco LP (NYSE:SUN) have been given a consensus rating of “Hold” by the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $30.63.

A number of research analysts have recently weighed in on the company. Wells Fargo & Co dropped their target price on Sunoco from $30.00 to $29.00 and set a “market perform” rating on the stock in a report on Thursday, September 13th. Raymond James restated a “buy” rating on shares of Sunoco in a report on Monday, August 13th. Zacks Investment Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 15th. B. Riley set a $32.00 target price on Sunoco and gave the company a “hold” rating in a report on Monday, June 4th. Finally, Jefferies Financial Group upgraded Sunoco from an “underperform” rating to a “hold” rating and set a $30.00 target price on the stock in a report on Wednesday, July 18th.

NYSE:SUN traded up $0.04 on Friday, hitting $28.23. The stock had a trading volume of 349,003 shares, compared to its average volume of 261,634. The firm has a market cap of $2.79 billion, a P/E ratio of 12.33 and a beta of 0.79. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.67 and a current ratio of 1.07. Sunoco has a 52 week low of $24.46 and a 52 week high of $33.11.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, August 8th. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Sunoco had a return on equity of 33.25% and a net margin of 0.86%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the company earned ($0.59) earnings per share. The company’s quarterly revenue was up 59.3% on a year-over-year basis. equities analysts forecast that Sunoco will post 2.3 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System bought a new stake in Sunoco during the second quarter worth $576,000. Putnam Investments LLC bought a new stake in Sunoco during the second quarter worth $1,515,000. Centaurus Financial Inc. bought a new stake in Sunoco during the second quarter worth $369,000. First Republic Investment Management Inc. bought a new stake in Sunoco during the second quarter worth $271,000. Finally, OppenheimerFunds Inc. lifted its holdings in Sunoco by 1.4% during the second quarter. OppenheimerFunds Inc. now owns 13,585,922 shares of the oil and gas company’s stock worth $339,105,000 after acquiring an additional 186,248 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

About Sunoco

Sunoco LP, together with its subsidiaries, engages in the wholesale distribution and retail sale of motor fuels primarily in the United States. The company operates through two segments, Wholesale and Retail. It serves convenience stores and commission agent locations, contracted independent convenience store operators, and other commercial customers.

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Analyst Recommendations for Sunoco (NYSE:SUN)

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