Sunoco LP (SUN) Given “Buy” Rating at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their buy rating on shares of Sunoco LP (NYSE:SUN) in a report published on Tuesday morning. Royal Bank Of Canada currently has a $35.00 price objective on the oil and gas company’s stock.

SUN has been the topic of several other research reports. BidaskClub upgraded shares of Sunoco from a sell rating to a hold rating in a report on Saturday, July 1st. Mizuho downgraded shares of Sunoco from a neutral rating to an underperform rating and set a $28.00 price objective on the stock. in a report on Monday, July 10th. Jefferies Group LLC restated a hold rating and set a $30.00 price objective (up previously from $29.00) on shares of Sunoco in a report on Monday, September 11th. UBS AG restated a neutral rating and set a $30.00 price objective (up previously from $28.00) on shares of Sunoco in a report on Monday, August 14th. Finally, Deutsche Bank AG upgraded shares of Sunoco from a hold rating to a buy rating and boosted their price objective for the stock from $31.00 to $36.00 in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $31.25.

Sunoco (SUN) opened at 31.68 on Tuesday. The stock’s 50 day moving average is $31.39 and its 200 day moving average is $30.31. The company’s market cap is $3.15 billion. Sunoco has a 12 month low of $21.01 and a 12 month high of $32.67.

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Several hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its position in shares of Sunoco by 5.9% during the second quarter. Alliancebernstein L.P. now owns 12,679 shares of the oil and gas company’s stock worth $388,000 after purchasing an additional 710 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sunoco by 24.0% during the second quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 1,213 shares in the last quarter. Credit Suisse AG lifted its position in shares of Sunoco by 3.1% during the first quarter. Credit Suisse AG now owns 50,663 shares of the oil and gas company’s stock worth $1,224,000 after purchasing an additional 1,522 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Sunoco by 9.0% during the second quarter. Private Advisor Group LLC now owns 19,092 shares of the oil and gas company’s stock worth $577,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Sunoco by 17.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the oil and gas company’s stock worth $423,000 after purchasing an additional 2,102 shares in the last quarter. Institutional investors own 30.86% of the company’s stock.

About Sunoco

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.

Analyst Recommendations for Sunoco (NYSE:SUN)

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