Sunoco (NYSE:SUN) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Sunoco shares moved above their 200-day moving average, trading near $76.10 versus the $67.11 average, signaling strong recent price momentum.
• Analysts remain broadly positive, with an overall “Buy” consensus and a $79 average price target; individual targets range from $78 to $83.
• Sunoco reported quarterly EPS of $0.94, below the $2.50 consensus, despite revenue rising 164.5% year over year. The company also increased its quarterly dividend to $1.0023, representing a 5.3% annualized yield.

Sunoco LP (NYSE:SUN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $67.11 and traded as high as $76.60. Sunoco shares last traded at $76.10, with a volume of 337,792 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $80.00 price objective on shares of Sunoco in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sunoco in a research note on Tuesday. Mizuho set a $83.00 target price on shares of Sunoco in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price target on shares of Sunoco to $78.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Finally, Barclays increased their price target on shares of Sunoco from $78.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $79.00.

Sunoco Stock Performance

The company has a market capitalization of $15.59 billion, a PE ratio of 16.84 and a beta of 0.41. The company has a 50 day moving average of $71.19 and a two-hundred day moving average of $67.11. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 0.83.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($1.56). The firm had revenue of $14.26 billion during the quarter, compared to the consensus estimate of $11.05 billion. Sunoco had a return on equity of 18.78% and a net margin of 2.88%.Sunoco's revenue for the quarter was up 164.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. As a group, equities research analysts predict that Sunoco LP will post 9.88 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were paid a $1.0023 dividend. This represents a $4.01 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Friday, August 7th. This is a positive change from Sunoco's previous quarterly dividend of $0.99. Sunoco's dividend payout ratio (DPR) is 88.50%.

Institutional Investors Weigh In On Sunoco

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Sunoco by 6.4% during the first quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company's stock valued at $9,239,000 after purchasing an additional 9,592 shares in the last quarter. Brown Advisory Inc. boosted its position 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 worth $652,000 after purchasing an additional 1,201 shares in the last quarter. NewEdge Advisors LLC grew 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 worth $380,000 after buying an additional 4,915 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Sunoco by 5.5% in the 2nd quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company's stock worth $19,611,000 after buying an additional 18,990 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Sunoco by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company's stock valued at $1,996,000 after buying an additional 2,810 shares in the last quarter. Institutional investors own 24.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source