Sunoco (NYSE:SUN) Reaches New 52-Week High at $54.30

Sunoco LP (NYSE:SUN) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.30 and last traded at $54.22, with a volume of 72114 shares changing hands. The stock had previously closed at $53.24.

Wall Street Analyst Weigh In

SUN has been the subject of several recent research reports. Barclays boosted their price target on Sunoco from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Mizuho downgraded Sunoco from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a research report on Friday, September 29th. Raymond James upped their target price on Sunoco from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. JPMorgan Chase & Co. upped their target price on Sunoco from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 10th. Finally, StockNews.com downgraded Sunoco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.57.

Sunoco Price Performance

The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.07 and a current ratio of 1.68. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 9.69 and a beta of 1.25. The business has a fifty day moving average price of $49.41 and a 200 day moving average price of $46.20.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $1.84. Sunoco had a return on equity of 53.87% and a net margin of 2.38%. The company had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. Sunoco’s revenue was down 4.2% on a year-over-year basis. As a group, research analysts anticipate that Sunoco LP will post 4.26 earnings per share for the current year.

Sunoco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 30th will be issued a dividend of $0.842 per share. The ex-dividend date is Friday, October 27th. This represents a $3.37 dividend on an annualized basis and a dividend yield of 6.25%. Sunoco’s dividend payout ratio (DPR) is currently 60.61%.

Hedge Funds Weigh In On Sunoco

Institutional investors have recently modified their holdings of the business. Miller Howard Investments Inc. NY acquired a new position in shares of Sunoco during the 2nd quarter worth $9,764,000. LPL Financial LLC increased its holdings in Sunoco by 11.9% in the 1st quarter. LPL Financial LLC now owns 143,552 shares of the oil and gas company’s stock worth $6,301,000 after purchasing an additional 15,255 shares in the last quarter. Barnett & Company Inc. increased its holdings in Sunoco by 0.8% in the 1st quarter. Barnett & Company Inc. now owns 64,700 shares of the oil and gas company’s stock worth $2,840,000 after purchasing an additional 500 shares in the last quarter. Financial Counselors Inc. acquired a new position in Sunoco in the 2nd quarter worth about $270,000. Finally, L.M. Kohn & Company acquired a new position in Sunoco in the 2nd quarter worth about $274,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The company's Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel to commission agent locations.