Sunoco (NYSE:SUN) Sets New 52-Week High - What's Next?

Key Points

• Sunoco reached a new 52-week high of $78.35, with shares last trading around $78.52. The stock is up above its 50-day and 200-day moving averages.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $79.00; recent targets range from $80 to $83, though one firm downgraded the stock to “Hold.”
• Sunoco raised its quarterly dividend to $1.0023 per share, equivalent to an annualized $4.01 payout and a 5.1% yield. Its latest quarter included 164.5% year-over-year revenue growth, although earnings per share missed estimates.

Sunoco LP (NYSE:SUN - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $78.35 and last traded at $78.5230, with a volume of 16734 shares changing hands. The stock had previously closed at $77.67.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SUN shares. Mizuho set a $83.00 target price on Sunoco in a research report on Friday, July 24th. Wells Fargo & Company raised their price target on Sunoco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded Sunoco from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Citigroup upped their price objective on shares of Sunoco from $73.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Barclays raised their target price on shares of Sunoco from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $79.00.

Sunoco Trading Up 0.5%

The business's 50 day simple moving average is $74.41 and its two-hundred day simple moving average is $68.91. The stock has a market cap of $15.99 billion, a P/E ratio of 17.25 and a beta of 0.41. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.95.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($1.56). Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The firm had revenue of $14.26 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm's revenue was up 164.5% on a year-over-year basis. As a group, analysts expect that Sunoco LP will post 9.57 EPS for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a dividend of $1.0023 per share. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from Sunoco's previous quarterly dividend of $0.99. This represents a $4.01 dividend on an annualized basis and a dividend yield of 5.1%. Sunoco's payout ratio is 88.72%.

Institutional Trading of Sunoco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wedbush Securities Inc. grew its position in shares of Sunoco by 2.8% during the 2nd quarter. Wedbush Securities Inc. now owns 6,110 shares of the oil and gas company's stock valued at $412,000 after acquiring an additional 166 shares during the period. Diversified Trust Co raised its holdings in shares of Sunoco by 3.0% in the 1st quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company's stock worth $379,000 after purchasing an additional 168 shares during the period. Kingsview Wealth Management LLC raised its holdings in shares of Sunoco by 2.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company's stock worth $509,000 after purchasing an additional 205 shares during the period. IHT Wealth Management LLC lifted its stake in Sunoco by 2.1% in the second quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company's stock valued at $552,000 after purchasing an additional 212 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in Sunoco by 4.1% during the second quarter. PFG Investments LLC now owns 5,951 shares of the oil and gas company's stock valued at $402,000 after purchasing an additional 237 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Sunoco Company Profile

Sunoco LP NYSE: SUN is a publicly traded master limited partnership focused on the distribution, transportation and storage of motor fuels and other petroleum products. The company supplies gasoline, diesel and other fuels to independent dealers, commercial customers, distributors and retail operators, supporting fuel sales under the Sunoco brand and other brands.

Sunoco operates a broad logistics network that includes fuel terminals, pipelines, storage facilities, marine assets and other transportation infrastructure.

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