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

Key Points

• Sunoco LP shares hit a new 52-week high, trading as high as $75.66 before ending near $75.17, reflecting continued upward momentum in the stock.
• Analyst sentiment remains positive, with multiple firms raising price targets or upgrading ratings; the stock currently has an average “Buy” rating and an average target price of $74.75.
• Recent earnings were stronger than expected, as Sunoco reported $2.85 EPS versus a $1.71 consensus estimate and revenue of $10.69 billion, both beating forecasts.

Sunoco LP (NYSE:SUN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $75.66 and last traded at $75.1710, with a volume of 8176 shares changing hands. The stock had previously closed at $74.99.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SUN. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $80.00 target price on shares of Sunoco in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Sunoco from $71.00 to $77.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Sunoco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, May 21st. Citigroup upped their price objective on shares of Sunoco from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of Sunoco from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $74.75.

Sunoco Stock Up 1.2%

The company has a market cap of $15.55 billion, a P/E ratio of 19.37 and a beta of 0.42. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03. The firm has a fifty day moving average price of $67.88 and a 200 day moving average price of $64.18.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $1.14. The business had revenue of $10.69 billion during the quarter, compared to analysts' expectations of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm's revenue for the quarter was up 106.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. Equities research analysts forecast that Sunoco LP will post 7.92 earnings per share for the current year.

Institutional Trading of Sunoco

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Sunoco by 6.4% in the 1st quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company's stock worth $9,239,000 after purchasing an additional 9,592 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Sunoco by 10.9% in the 2nd quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company's stock valued at $652,000 after buying an additional 1,201 shares during the period. NewEdge Advisors LLC increased its stake in shares of Sunoco by 226.2% in the 2nd quarter. NewEdge Advisors LLC now owns 7,088 shares of the oil and gas company's stock valued at $380,000 after buying an additional 4,915 shares during the period. Raymond James Financial Inc. raised its position in shares of Sunoco by 5.5% during the second quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company's stock worth $19,611,000 after acquiring an additional 18,990 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Sunoco by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company's stock worth $1,996,000 after acquiring an additional 2,810 shares during the last quarter. 24.29% of the stock is owned by institutional investors.

Sunoco Company Profile

Sunoco LP NYSE: SUN is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco's product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.

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