According to Zacks, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas. “
Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group AG set a $33.00 target price on shares of Sunoco and gave the stock a hold rating in a research report on Saturday, August 6th. Robert W. Baird cut shares of Sunoco from an outperform rating to a neutral rating and decreased their target price for the stock from $43.00 to $30.00 in a research report on Thursday, August 4th. Barclays PLC decreased their target price on shares of Sunoco from $32.00 to $31.00 and set an equal weight rating on the stock in a research report on Friday, August 5th. Vetr cut shares of Sunoco from a strong-buy rating to a hold rating and set a $31.00 target price on the stock. in a research report on Monday, August 15th. Finally, FBR & Co initiated coverage on shares of Sunoco in a research report on Friday, September 9th. They issued a market perform rating and a $32.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Sunoco presently has an average rating of Hold and a consensus price target of $34.76.
Shares of Sunoco (NYSE:SUN) opened at 28.77 on Thursday. Sunoco has a 12 month low of $22.86 and a 12 month high of $40.06. The stock has a market capitalization of $3.22 billion, a P/E ratio of 24.16 and a beta of 0.67. The firm has a 50 day moving average of $29.41 and a 200-day moving average of $31.14.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Investments LLC purchased a new stake in Sunoco during the second quarter valued at $348,000. Royal Bank of Canada boosted its stake in Sunoco by 263.8% in the first quarter. Royal Bank of Canada now owns 1,043,339 shares of the company’s stock valued at $34,566,000 after buying an additional 756,518 shares during the last quarter. Babson Capital Management LLC purchased a new stake in Sunoco during the first quarter valued at $1,388,000. Invictus RG purchased a new stake in Sunoco during the first quarter valued at $254,000. Finally, TPH Asset Management LLC boosted its stake in Sunoco by 22.7% in the first quarter. TPH Asset Management LLC now owns 858,618 shares of the company’s stock valued at $27,751,000 after buying an additional 158,563 shares during the last quarter. Institutional investors own 41.96% of the company’s stock.
Sunoco Company Profile
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sunoco LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco LP and related companies with MarketBeat.com's FREE daily email newsletter.