Several hedge funds have adjusted their investments in Sunoco. CNB Bank invested $30,000 in the first quarter, while Longfellow Investment Management put in about $32,000 in the second quarter. First Horizon Advisors spent about $38,000, Redwood Wealth Management invested around $46,000, and Register Financial Advisors contributed approximately $55,000. Overall, institutional investors hold 24.29% of Sunoco’s stock.
Wall Street Analysts Forecast Growth
Analysts have shared their views on Sunoco. Royal Bank of Canada raised their price target from $60 to $63, giving it an “outperform” rating. JPMorgan Chase adjusted their price target to $63 and rated it “overweight.” StockNews.com changed its rating from “buy” to “hold,” while Barclays decreased their target from $61 to $60 but maintained an “overweight” rating. Currently, two analysts suggest holding the stock, and seven recommend buying it, leading to a consensus rating of “Moderate Buy” with an average target price of $62.25.
Check Out Our Latest Report on Sunoco
Sunoco Price Performance
As of Friday, Sunoco opened at $52.09. Key metrics include a debt-to-equity ratio of 1.69 and a market cap of $7.94 billion. The 1-year low is $49.00 and the high is $64.89. In their latest earnings report on August 7, Sunoco posted an EPS of $3.85, exceeding expectations of $1.23, with revenues of $6.17 billion, up 7.5% year-over-year.
Sunoco Cuts Dividend
Recently, Sunoco announced a quarterly dividend of $0.8756 per share, paid on August 19, with a yield of 6.72%. Their dividend payout ratio stands at 46.30%.
Sunoco Profile
Sunoco LP distributes and sells motor fuels in the U.S. and operates in segments of Fuel Distribution and Marketing, dealing with motor fuel and other petroleum products.
Further Reading
- Five stocks we like better than Sunoco
- How to Effectively Use the MarketBeat Ratings Screener
- America’s Most Coveted Businesses in 2024
- Earnings Per Share Calculator
- Top 3 Stocks for Oil’s Comeback
- Consumer Staples Stocks Explained
- Growth Potential in CrowdStrike Stock
Want to see what other hedge funds are holding SUN? Visit HoldingsChannel.com for the latest 13F filings for Sunoco LP.
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