Sunoco LP (NYSE:SUN – Get Rating) – Investment analysts at Zacks Research issued their Q3 2022 earnings estimates for Sunoco in a note issued to investors on Monday, September 19th. Zacks Research analyst N. Banerjee forecasts that the oil and gas company will post earnings of $1.06 per share for the quarter. The consensus estimate for Sunoco's current full-year earnings is $6.44 per share. Zacks Research also issued estimates for Sunoco's Q4 2022 earnings at $0.95 EPS, FY2022 earnings at $5.53 EPS, Q1 2023 earnings at $1.21 EPS, Q2 2023 earnings at $1.36 EPS, Q3 2023 earnings at $0.86 EPS, Q4 2023 earnings at $0.77 EPS, FY2023 earnings at $4.19 EPS, Q1 2024 earnings at $1.07 EPS, Q2 2024 earnings at $1.10 EPS and FY2024 earnings at $4.16 EPS.
Get Sunoco alerts:Sunoco (NYSE:SUN – Get Rating) last announced its earnings results on Wednesday, August 3rd. The oil and gas company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.06. Sunoco had a net margin of 2.36% and a return on equity of 61.22%. The company had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The company's revenue was up 77.9% on a year-over-year basis.
A number of other brokerages also recently weighed in on SUN. Barclays dropped their target price on shares of Sunoco from $47.00 to $44.00 in a research note on Wednesday, July 20th. Mizuho boosted their price target on shares of Sunoco from $44.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday, August 4th. Wells Fargo & Company downgraded shares of Sunoco from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $46.00 to $41.00 in a research note on Tuesday, May 31st. Finally, StockNews.com raised shares of Sunoco from a "hold" rating to a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.Sunoco Trading Down 1.8 %
Shares of NYSE SUN opened at $39.04 on Thursday. Sunoco has a 1-year low of $34.26 and a 1-year high of $46.95. The company has a market cap of $3.91 billion, a PE ratio of 7.14 and a beta of 1.48. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 3.61. The company has a 50-day moving average of $39.89 and a two-hundred day moving average of $40.24.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Sunoco during the second quarter worth $75,000. Belpointe Asset Management LLC bought a new position in shares of Sunoco in the second quarter valued at about $102,000. Captrust Financial Advisors raised its position in shares of Sunoco by 60.3% in the first quarter. Captrust Financial Advisors now owns 2,549 shares of the oil and gas company's stock valued at $104,000 after purchasing an additional 959 shares during the period. US Bancorp DE raised its position in shares of Sunoco by 600.0% in the second quarter. US Bancorp DE now owns 3,500 shares of the oil and gas company's stock valued at $131,000 after purchasing an additional 3,000 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Sunoco by 12.7% during the second quarter. Geneos Wealth Management Inc. now owns 4,458 shares of the oil and gas company's stock worth $167,000 after acquiring an additional 503 shares during the period. Institutional investors and hedge funds own 16.82% of the company's stock.
Sunoco Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were issued a $0.8255 dividend. This represents a $3.30 annualized dividend and a dividend yield of 8.46%. The ex-dividend date of this dividend was Friday, August 5th. Sunoco's dividend payout ratio (DPR) is presently 60.33%.
Sunoco Company Profile
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Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.
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