Sunoco (NYSE:SUN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Sunoco (NYSE:SUN) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $66.00 to $73.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.28% from the company’s current price.

A number of other brokerages have also issued reports on SUN. Barclays set a $63.00 price target on shares of Sunoco in a report on Friday, February 20th. Stifel Nicolaus lifted their price objective on shares of Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company upped their target price on shares of Sunoco from $67.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Finally, Weiss Ratings lowered shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sunoco currently has an average rating of “Moderate Buy” and an average target price of $67.83.

Sunoco Trading Up 0.2%

Shares of NYSE SUN opened at $65.60 on Tuesday. Sunoco has a fifty-two week low of $47.98 and a fifty-two week high of $67.82. 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 company has a market cap of $13.44 billion, a price-to-earnings ratio of 28.90 and a beta of 0.49. The business’s 50 day moving average price is $61.14 and its 200-day moving average price is $55.56.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, February 17th. The oil and gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $1.64 by ($1.55). Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $9.65 billion. During the same period last year, the company earned $0.75 EPS. The business’s revenue was up 63.2% compared to the same quarter last year. On average, sell-side analysts expect that Sunoco will post 10.65 earnings per share for the current year.

Hedge Funds Weigh In On Sunoco

Several institutional investors have recently bought and sold shares of SUN. Alps Advisors Inc. raised its stake in Sunoco by 3.2% in the fourth quarter. Alps Advisors Inc. now owns 24,856,265 shares of the oil and gas company’s stock worth $1,302,717,000 after buying an additional 766,781 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sunoco by 13.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,179,502 shares of the oil and gas company’s stock valued at $159,007,000 after acquiring an additional 374,396 shares in the last quarter. Energy Income Partners LLC boosted its position in Sunoco by 1.7% during the 3rd quarter. Energy Income Partners LLC now owns 1,916,858 shares of the oil and gas company’s stock valued at $95,862,000 after acquiring an additional 32,866 shares in the last quarter. Morgan Stanley grew its stake in Sunoco by 60.5% in the fourth quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock valued at $85,922,000 after purchasing an additional 617,700 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Sunoco by 266.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock worth $85,233,000 after purchasing an additional 1,182,662 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

About Sunoco

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.