Sunoco LP (NYSE:SUN) has been assigned an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $30.91.
A number of analysts have issued reports on the company. ValuEngine downgraded Sunoco from a “hold” rating to a “sell” rating in a report on Wednesday, October 31st. Zacks Investment Research downgraded Sunoco from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. JPMorgan Chase & Co. downgraded Sunoco from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $32.00 in a report on Friday, October 12th. Credit Suisse Group assumed coverage on Sunoco in a report on Thursday, October 11th. They set a “neutral” rating and a $31.00 price target for the company. Finally, TheStreet raised Sunoco from a “c+” rating to a “b-” rating in a report on Monday, September 24th.
NYSE SUN traded up $0.01 during trading on Monday, reaching $28.45. 551,820 shares of the company’s stock were exchanged, compared to its average volume of 442,134. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 15.84 and a beta of 0.84. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.07 and a quick ratio of 0.67. Sunoco has a 1 year low of $24.46 and a 1 year high of $33.11.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Tuesday, November 6th will be issued a $0.8255 dividend. This represents a $3.30 annualized dividend and a dividend yield of 11.61%. The ex-dividend date of this dividend is Monday, November 5th. Sunoco’s payout ratio is currently 144.10%.
Institutional investors have recently bought and sold shares of the company. Rafferty Asset Management LLC increased its position in Sunoco by 5.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 83,800 shares of the oil and gas company’s stock valued at $2,476,000 after acquiring an additional 4,370 shares during the period. Claraphi Advisory Network LLC acquired a new position in Sunoco in the 3rd quarter valued at about $220,000. Tortoise Index Solutions LLC increased its position in Sunoco by 39.7% in the 3rd quarter. Tortoise Index Solutions LLC now owns 9,717 shares of the oil and gas company’s stock valued at $287,000 after acquiring an additional 2,759 shares during the period. JPMorgan Chase & Co. increased its position in Sunoco by 28.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,713,603 shares of the oil and gas company’s stock valued at $50,637,000 after acquiring an additional 375,235 shares during the period. Finally, Private Advisor Group LLC increased its position in Sunoco by 56.3% in the 3rd quarter. Private Advisor Group LLC now owns 19,924 shares of the oil and gas company’s stock valued at $589,000 after acquiring an additional 7,178 shares during the period. 28.50% of the stock is owned by institutional investors and hedge funds.
Sunoco Company Profile
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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