An issue of Sunoco LP (NYSE:SUN) bonds rose 1.1% as a percentage of their face value during trading on Wednesday. The high-yield issue of debt has a 5.5% coupon and will mature on February 15, 2026. The bonds in the issue are now trading at $101.63. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.
Several research analysts have issued reports on SUN shares. Mitsubishi UFJ Financial Group reiterated an “underweight” rating on shares of Sunoco in a research note on Thursday, November 9th. Robert W. Baird reiterated a “buy” rating and set a $36.00 price objective on shares of Sunoco in a research note on Friday, November 10th. Credit Suisse Group started coverage on Sunoco in a research note on Thursday, January 4th. They set a “neutral” rating and a $28.00 price objective for the company. Mizuho reiterated a “sell” rating and set a $29.00 price objective on shares of Sunoco in a research note on Friday, October 20th. Finally, Goldman Sachs Group upgraded Sunoco from a “sell” rating to a “neutral” rating and set a $33.00 price objective for the company in a research note on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.61.
Sunoco LP (NYSE SUN) opened at $30.40 on Thursday. The stock has a market capitalization of $3,020.00, a PE ratio of -5.93 and a beta of 0.56. Sunoco LP has a 1-year low of $23.09 and a 1-year high of $32.67. The company has a quick ratio of 3.75, a current ratio of 4.02 and a debt-to-equity ratio of 2.28.
In related news, insider Arnold Dodderer sold 2,512 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $28.98, for a total value of $72,797.76. Following the transaction, the insider now owns 23,923 shares in the company, valued at $693,288.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Institutional investors and hedge funds have recently modified their holdings of the business. BB&T Investment Services Inc. bought a new position in Sunoco during the second quarter worth about $100,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Sunoco by 24.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock valued at $191,000 after purchasing an additional 1,213 shares in the last quarter. Suntrust Banks Inc. bought a new position in shares of Sunoco during the 2nd quarter valued at about $235,000. Raymond James Trust N.A. bought a new position in shares of Sunoco during the 2nd quarter valued at about $246,000. Finally, California Public Employees Retirement System bought a new position in shares of Sunoco during the 3rd quarter valued at about $329,000. Hedge funds and other institutional investors own 26.32% of the company’s stock.
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Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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