Analysts Set Sunoco LP (NYSE:SUN) Price Target at $30.00
Sunoco LP (NYSE:SUN) has been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $30.00.
SUN has been the subject of several research analyst reports. Barclays cut shares of Sunoco from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $34.00 to $32.00 in a research note on Tuesday, April 16th. Robert W. Baird cut shares of Sunoco from an “outperform” rating to a “neutral” rating and cut their target price for the company from $34.00 to $30.00 in a research note on Thursday, March 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. ValuEngine upgraded shares of Sunoco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, TheStreet upgraded shares of Sunoco from a “c+” rating to a “b” rating in a research note on Thursday, May 9th.
Several hedge funds have recently made changes to their positions in SUN. OppenheimerFunds Inc. raised its stake in shares of Sunoco by 3.1% in the 1st quarter. OppenheimerFunds Inc. now owns 15,627,067 shares of the oil and gas company’s stock valued at $486,940,000 after buying an additional 463,585 shares in the last quarter. Intrinsic Edge Capital Management LLC grew its holdings in shares of Sunoco by 216.8% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 475,178 shares of the oil and gas company’s stock worth $12,920,000 after purchasing an additional 325,178 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Sunoco by 158.9% in the 1st quarter. Bank of Montreal Can now owns 433,596 shares of the oil and gas company’s stock worth $13,511,000 after purchasing an additional 266,134 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Sunoco by 53.2% in the 4th quarter. BlackRock Inc. now owns 575,604 shares of the oil and gas company’s stock worth $15,651,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Sunoco in the 4th quarter worth about $3,842,000. Institutional investors own 28.86% of the company’s stock.
Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, May 8th. The oil and gas company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. Sunoco had a net margin of 1.28% and a return on equity of 38.68%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.74) earnings per share. As a group, research analysts predict that Sunoco will post 2.73 EPS for the current fiscal year.
Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.
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