Sunoco LP (NYSE:SUN - Free Report) - Zacks Research increased their Q1 2024 earnings per share estimates for Sunoco in a research note issued on Wednesday, April 10th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings per share of $1.03 for the quarter, up from their prior forecast of $1.02. The consensus estimate for Sunoco's current full-year earnings is $4.96 per share. Zacks Research also issued estimates for Sunoco's Q2 2024 earnings at $1.30 EPS, Q4 2024 earnings at $1.21 EPS, FY2024 earnings at $4.90 EPS, Q2 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.09 EPS and FY2026 earnings at $4.45 EPS.
Several other brokerages have also commented on SUN. Mizuho raised their price objective on Sunoco from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, January 17th. Wells Fargo & Company raised their price objective on Sunoco from $60.00 to $61.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 20th. Raymond James raised their price objective on Sunoco from $55.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, January 19th. Barclays raised their price target on Sunoco from $57.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, January 17th. Finally, Citigroup downgraded Sunoco from a "buy" rating to a "neutral" rating and set a $65.00 price target for the company. in a report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $62.71.
View Our Latest Analysis on Sunoco
Sunoco Stock Down 1.6 %
Sunoco stock traded down $0.85 on Friday, hitting $53.26. 675,055 shares of the stock traded hands, compared to its average volume of 460,257. The company has a current ratio of 1.40, a quick ratio of 0.76 and a debt-to-equity ratio of 3.66. The firm has a market cap of $5.37 billion, a P/E ratio of 14.63 and a beta of 1.27. The business's fifty day simple moving average is $60.74 and its 200 day simple moving average is $56.70. Sunoco has a 1 year low of $41.95 and a 1 year high of $64.89.
Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($2.46). Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The business had revenue of $5.64 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same period in the previous year, the business earned $0.42 EPS. The business's revenue was down 4.7% compared to the same quarter last year.
Sunoco Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were issued a $0.842 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $3.37 annualized dividend and a yield of 6.32%. Sunoco's payout ratio is 92.58%.
Institutional Investors Weigh In On Sunoco
Several large investors have recently bought and sold shares of SUN. Principal Securities Inc. bought a new stake in shares of Sunoco during the 4th quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new position in Sunoco in the 4th quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in Sunoco in the 4th quarter worth approximately $26,000. Steward Partners Investment Advisory LLC purchased a new position in Sunoco in the 1st quarter worth approximately $26,000. Finally, Allworth Financial LP lifted its holdings in Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 500 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors.
About Sunoco
(
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Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.
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