Sunoco LP (NYSE:SUN – Get Rating) – Equities research analysts at Zacks Research issued their Q3 2022 earnings per share estimates for shares of Sunoco in a research note issued on Monday, September 19th. Zacks Research analyst N. Banerjee anticipates that the oil and gas company will earn $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:A number of other research firms also recently issued reports on SUN. StockNews.com upgraded Sunoco from a "hold" rating to a "buy" rating in a research note on Tuesday. Wells Fargo & Company downgraded 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. Mizuho raised their price target on Sunoco from $44.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday, August 4th. Finally, Barclays dropped their price target on Sunoco from $47.00 to $44.00 in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.00.
Sunoco Stock Performance
Shares of SUN opened at $40.00 on Thursday. The business's fifty day simple moving average is $39.96 and its two-hundred day simple moving average is $40.23. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 3.61. Sunoco has a 12 month low of $34.26 and a 12 month high of $46.95. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 7.31 and a beta of 1.48.Sunoco (NYSE:SUN – Get Rating) last issued its earnings results on Wednesday, August 3rd. The oil and gas company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Sunoco had a return on equity of 61.22% and a net margin of 2.36%. The business had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same period last year, the business posted $1.73 EPS. The company's revenue was up 77.9% compared to the same quarter last year.
Institutional Investors Weigh In On Sunoco
A number of institutional investors and hedge funds have recently bought and sold shares of SUN. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Sunoco during the second quarter valued at about $75,000. Belpointe Asset Management LLC purchased a new position in shares of Sunoco during the second quarter valued at about $102,000. Captrust Financial Advisors grew its position in shares of Sunoco by 60.3% during 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 in the last quarter. US Bancorp DE grew its position in shares of Sunoco by 600.0% during 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 in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of 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 valued at $167,000 after purchasing an additional 503 shares in the last quarter. 16.82% of the stock is owned by institutional investors.
Sunoco Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were issued a dividend of $0.8255 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $3.30 dividend on an annualized basis and a yield of 8.26%. Sunoco's dividend payout ratio 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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