The stock of Sunoco LP (NYSE:SUN) hit a new 52-week low and has $21.33 target or 7.00% below today’s $22.94 share price. The 7 months bearish chart indicates high risk for the $2.52 billion company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $21.33 price target is reached, the company will be worth $176.40 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.70 million shares traded hands or 321.88% up from the average. Sunoco LP (NYSE:SUN) has declined 31.13% since April 19, 2016 and is downtrending. It has underperformed by 34.99% the S&P500.
Sunoco LP (NYSE:SUN) Ratings Coverage
Out of 13 analysts covering Sunoco Inc. (NYSE:SUN), 4 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 31% are positive. Sunoco Inc. has been the topic of 29 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Jefferies downgraded the stock to “Hold” rating in Tuesday, March 22 report. The stock has “Neutral” rating given by Citigroup on Friday, September 23. The firm earned “Equal-Weight” rating on Monday, August 15 by Morgan Stanley. The firm earned “Outperform” rating on Tuesday, June 21 by Oppenheimer. The firm earned “Outperform” rating on Tuesday, November 24 by RBC Capital Markets. The stock of Sunoco LP (NYSE:SUN) earned “Buy” rating by UBS on Thursday, August 4. RBC Capital Markets maintained Sunoco LP (NYSE:SUN) rating on Thursday, July 23. RBC Capital Markets has “Outperform” rating and $52 price target. The firm earned “Outperform” rating on Thursday, November 19 by Credit Suisse. Mizuho initiated Sunoco LP (NYSE:SUN) rating on Friday, September 30. Mizuho has “Neutral” rating and $31 price target. The stock of Sunoco LP (NYSE:SUN) earned “Equal Weight” rating by Barclays Capital on Friday, August 7.
According to Zacks Investment Research, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas.”
Insitutional Activity: The institutional sentiment increased to 1.2 in Q2 2016. Its up 0.09, from 1.11 in 2016Q1. The ratio improved, as 17 funds sold all Sunoco LP shares owned while 28 reduced positions. 23 funds bought stakes while 27 increased positions. They now own 38.18 million shares or 20.58% more from 31.67 million shares in 2016Q1.
Us State Bank De has invested 0% of its portfolio in Sunoco LP (NYSE:SUN). Moreover, Wade G W has 0.04% invested in Sunoco LP (NYSE:SUN) for 7,649 shares. The Ontario – Canada-based Manufacturers Life Insur The has invested 0% in Sunoco LP (NYSE:SUN). Mycio Wealth reported 40 shares or 0% of all its holdings. Solaris Asset Mngmt Ltd Llc, a New York-based fund reported 900 shares. Cohen And Steers Incorporated has 175 shares for 0% of their US portfolio. Advisory Ser Networks Limited Liability Company last reported 0.01% of its portfolio in the stock. Blackrock Investment Mgmt Ltd owns 300 shares or 0% of their US portfolio. Deutsche Comml Bank Ag holds 704,658 shares or 0.01% of its portfolio. Barclays Public Limited Company has 109,170 shares for 0% of their US portfolio. Evercore Wealth Mngmt Ltd Company reported 600 shares or 0% of all its holdings. Jpmorgan Chase accumulated 429,592 shares or 0% of the stock. Kayne Anderson Capital Advsr Lp accumulated 1.44 million shares or 0.48% of the stock. Financial Architects holds 0% or 250 shares in its portfolio. Moreover, Stifel Financial Corp has 0.04% invested in Sunoco LP (NYSE:SUN) for 301,147 shares.
More important recent Sunoco LP (NYSE:SUN) news were published by: Seekingalpha.com which released: “Sunoco LP’s Growing Pains” on November 14, 2016, also Fool.com published article titled: “Sunoco LP Shrugs Off Operational Challenges and Turns In Solid Q3 Earnings”, Prnewswire.com published: “Sunoco LP Announces Third Quarter 2016 Financial and Operating Results” on November 09, 2016. More interesting news about Sunoco LP (NYSE:SUN) was released by: Wsj.com and their article: “Sunoco Logistics to Buy Energy Transfer Partners” with publication date: November 21, 2016.
SUN Company Profile
Sunoco LP, formerly Susser Petroleum Partners LP, incorporated on June 11, 2012, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial clients and distributors. The Firm operates through two divisions: wholesale and retail. The Wholesale activities segment sells motor fuel to its retail segment and external customers. The Retail activities segment operates convenience stores selling a range of merchandise, food items, services and motor fuel. The Firm operates approximately 900 convenience stores and fuel outlets in over eight states, offering merchandise, food service, motor fuel and other services. It distributes approximately 7.6 billion gallons of motor fuel through its convenience stores and consignment locations, contracted independent convenience store operators, and other commercial customers.
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