Sunoco (NYSE:SUN) Sees Strong Trading Volume - What's Next?

Sunoco LP (NYSE:SUN - Get Free Report) saw strong trading volume on Monday . 396,589 shares were traded during trading, a decline of 18% from the previous session's volume of 486,396 shares.The stock last traded at $54.63 and had previously closed at $57.94.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SUN. JPMorgan Chase & Co. increased their price target on shares of Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Barclays cut their price target on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, Mizuho lifted their price objective on Sunoco from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Sunoco currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.33.

Sunoco Price Performance

The firm has a market capitalization of $8.45 billion, a P/E ratio of 8.39 and a beta of 0.67. The firm has a 50-day moving average of $56.65 and a 200-day moving average of $55.11. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.48). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. The business had revenue of $5.18 billion for the quarter, compared to analysts' expectations of $5.58 billion. During the same period last year, the business earned $2.26 earnings per share. The company's quarterly revenue was down 5.8% on a year-over-year basis. As a group, analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be issued a $0.8976 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.59 annualized dividend and a yield of 6.48%. This is a boost from Sunoco's previous quarterly dividend of $0.89. Sunoco's dividend payout ratio (DPR) is currently 54.39%.

Hedge Funds Weigh In On Sunoco

Hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its position in Sunoco by 12.3% during the first quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company's stock valued at $1,343,080,000 after acquiring an additional 2,529,170 shares during the last quarter. Barclays PLC boosted its holdings in shares of Sunoco by 908,833.3% in the third quarter. Barclays PLC now owns 436,288 shares of the oil and gas company's stock worth $23,419,000 after buying an additional 436,240 shares during the last quarter. ING Groep NV grew its position in Sunoco by 223.7% during the fourth quarter. ING Groep NV now owns 513,715 shares of the oil and gas company's stock valued at $26,426,000 after buying an additional 355,000 shares during the period. Raymond James Financial Inc. purchased a new stake in Sunoco during the fourth quarter valued at approximately $17,739,000. Finally, CIBC Private Wealth Group LLC raised its position in Sunoco by 32,166.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company's stock worth $12,137,000 after acquiring an additional 230,634 shares during the period. 24.29% of the stock is owned by institutional investors.

About Sunoco

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.