Susser Petroleum Partners Downgraded by Wells Fargo & Co. to Market Perform (SUSP)
Susser Petroleum Partners (NASDAQ:SUSP) was downgraded by stock analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on SUSP. Analysts at RBC Capital raised their price target on shares of Susser Petroleum Partners from $48.00 to $57.00 in a research note on Monday, August 18th. They now have an “outperform” rating on the stock. Analysts at Benchmark Co. downgraded shares of Susser Petroleum Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, June 4th. They now have a $47.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.00.
Susser Petroleum Partners (NASDAQ:SUSP) opened at 58.97 on Wednesday. Susser Petroleum Partners has a 52 week low of $29.27 and a 52 week high of $59.99. The stock’s 50-day moving average is $52.72 and its 200-day moving average is $43.59. The company has a market cap of $1.295 billion and a price-to-earnings ratio of 33.51.
Susser Petroleum Partners (NASDAQ:SUSP) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.54 by $0.11. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 22.8% on a year-over-year basis. Analysts expect that Susser Petroleum Partners will post $2.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Tuesday, August 19th will be given a dividend of $0.5197 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Susser Petroleum Partners’s previous quarterly dividend of $0.50.
Susser Petroleum Partners LP is primarily engaged in fee-based wholesale distribution of motor fuels to Susser Holdings Corporation (NASDAQ:SUSP) and third parties.
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