Sunoco (NYSE:SUN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Sunoco LP (NYSE:SUN)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $62.39 and traded as high as $68.47. Sunoco shares last traded at $67.9060, with a volume of 242,185 shares.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SUN shares. Wall Street Zen lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Citigroup boosted their target price on Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Mizuho raised their price target on Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price target on Sunoco from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, March 24th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 price objective on shares of Sunoco in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $74.38.

Sunoco Stock Performance

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92. The company has a market cap of $13.91 billion, a price-to-earnings ratio of 17.37 and a beta of 0.42. The stock has a 50-day moving average price of $66.91 and a 200 day moving average price of $62.39.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.71 by $1.14. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.19 billion. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The firm’s revenue was up 106.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. As a group, analysts anticipate that Sunoco LP will post 7.92 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.9899 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Sunoco’s previous quarterly dividend of $0.93. The ex-dividend date was Friday, May 8th. Sunoco’s dividend payout ratio is 101.28%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC acquired a new position in shares of Sunoco during the 3rd quarter worth approximately $40,000. Glen Eagle Advisors LLC boosted its holdings in shares of Sunoco by 496.5% in the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 710 shares during the last quarter. Cresta Advisors Ltd. acquired a new stake in shares of Sunoco in the 4th quarter valued at approximately $64,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Sunoco in the first quarter valued at $78,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Sunoco by 110.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 823 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

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.