Sunoco (NYSE:SUN) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Sunoco shares recently crossed above their 200-day moving average
• Analysts have been raising price targets (JPMorgan $73, Wells Fargo $71, Stifel $64), leaving a MarketBeat consensus rating of "Buy" with a consensus target of $67.83.
• The company reported a large quarterly EPS miss ($0.09 vs. $1.64 expected) and revenue below estimates despite a 63.2% YoY revenue increase, and it raised its quarterly dividend to $0.9317 (annualized $3.73, ~5.9% yield).

Shares of Sunoco LP (NYSE:SUN - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.31 and traded as high as $64.15. Sunoco shares last traded at $63.1260, with a volume of 296,861 shares changing hands.

Analysts Set New Price Targets

SUN has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Sunoco from $67.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, March 13th. JPMorgan Chase & Co. increased their target price on Sunoco from $66.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, March 24th. Stifel Nicolaus increased their target price on Sunoco from $61.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, February 18th. Weiss Ratings raised Sunoco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. Finally, Barclays set a $63.00 target price on Sunoco in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $67.83.

Sunoco Stock Down 2.2%

The firm has a market cap of $12.93 billion, a price-to-earnings ratio of 27.81 and a beta of 0.48. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.78 and a current ratio of 1.38. The business's 50-day moving average is $63.65 and its 200-day moving average is $57.31.

Sunoco (NYSE:SUN - Get Free Report) last announced its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($1.55). The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $9.65 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The company's revenue for the quarter was up 63.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. On average, equities analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were issued a dividend of $0.9317 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $3.73 dividend on an annualized basis and a yield of 5.9%. This is a positive change from Sunoco's previous quarterly dividend of $0.92. Sunoco's payout ratio is 164.32%.

Institutional Investors Weigh In On Sunoco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Steigerwald Gordon & Koch Inc. acquired a new stake in Sunoco during the 3rd quarter valued at $31,000. Ancora Advisors LLC acquired a new stake in Sunoco during the 3rd quarter valued at $40,000. Glen Eagle Advisors LLC increased its holdings in Sunoco by 496.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company's stock valued at $45,000 after purchasing an additional 710 shares in the last quarter. Cresta Advisors Ltd. acquired a new stake in Sunoco during the 4th quarter valued at $64,000. Finally, Russell Investments Group Ltd. increased its holdings in Sunoco by 110.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company's stock valued at $82,000 after purchasing an additional 823 shares in the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

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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