Barclays Lowers Sunoco Price Target to $61.00

Barclays has decreased its price target for Sunoco (NYSE:SUN) from $62.00 to $61.00, as reported in a recent research update. Despite the reduction, Barclays maintains an "overweight" rating for the company, indicating a general positive outlook. The new price target suggests a potential upside of 4.24% from Sunoco's previous closing price.

Several other research analysts have also assessed Sunoco's stock recently. Royal Bank of Canada raised its price target from $63.00 to $64.00 and rated the company as "outperform" in their report released on December 9. Mizuho increased their target from $61.00 to $66.00 with a similar "outperform" rating in a report dated February 3. Overall, one analyst has suggested a hold rating for the stock, while six others have given it a buy rating. According to MarketBeat.com, Sunoco currently has an average rating of "Moderate Buy" with an average price target of $63.50.

Recent Performance of Sunoco Stock

On the trading day following the announcement, Sunoco's stock opened at $58.52. It has shown an upward trend, increasing by 1.1%. The stock has a 50-day moving average price of $57.33 and a 200-day moving average price of $54.43. Over the past year, Sunoco reached a low of $49.45 and a high of $60.61. Additionally, the company’s financial metrics include a debt-to-equity ratio of 1.84, a quick ratio of 0.66, and a current ratio of 1.27. With a market capitalization of $8.93 billion, its price-to-earnings (P/E) ratio stands at 8.87, and it has a beta of 1.35.

Sunoco recently reported its quarterly earnings on February 11, where it posted an earnings per share (EPS) of $0.75, which fell short of the consensus estimate of $1.48 by $0.73. The company's net margin is reported at 3.85%, and it has a return on equity of 22.52%. Analysts project that Sunoco will report an EPS of 10.65 for the current fiscal year.

Changes in Institutional Holdings

Various large institutional investors have adjusted their stakes in Sunoco. For instance, Steward Partners Investment Advisory LLC increased its investment by 17.1% during the fourth quarter, acquiring an additional 182 shares. B. Riley Wealth Advisors Inc. raised its holdings by 1.8% in the third quarter, now owning 10,637 shares valued at $570,000. Similarly, Stifel Financial Corp boosted its stake by 0.8%, holding 25,251 shares worth $1,355,000. World Investment Advisors LLC has also expanded its holdings by 5.6%, while IHT Wealth Management LLC increased its investment by 2.6%. Currently, approximately 24.29% of Sunoco’s shares are held by institutional investors.

Company Overview

Sunoco LP, along with its subsidiaries, is involved in the distribution and retailing of motor fuels throughout the United States. The company operates through two main segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment specializes in purchasing motor fuels and other petroleum products from independent refiners and oil companies to supply to retail stores, commercial customers, and independent distributors.

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