The stock of Sunoco LP (NYSE:SUN) reached all time low today, Nov, 22 and still has $20.10 target or 7.00% below today’s $21.61 share price. This indicates more downside for the $2.33 billion company. This technical setup was reported by Barchart.com. If the $20.10 PT is reached, the company will be worth $163.10 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 3.01 million shares traded hands or 309.02% up from the average. Sunoco LP (NYSE:SUN) has declined 35.19% since April 20, 2016 and is downtrending. It has underperformed by 39.75% 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. Barclays Capital maintained the stock with “Equal Weight” rating in Friday, August 7 report. The company was upgraded on Thursday, November 19 by Credit Suisse. The firm has “Neutral” rating given on Thursday, August 4 by Robert W. Baird. The firm earned “Buy” rating on Thursday, August 4 by UBS. RBC Capital Markets maintained it with “Outperform” rating and $52 target price in Tuesday, November 24 report. The firm has “Equal-Weight” rating given on Monday, August 15 by Morgan Stanley. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, July 23. Citigroup downgraded Sunoco LP (NYSE:SUN) on Monday, November 21 to “Sell” rating. The firm has “Equalweight” rating by Barclays Capital given on Thursday, June 16. The firm has “Outperform” rating given on Wednesday, May 11 by RBC Capital Markets.
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 increased, 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.
Geneva Advsr Limited Liability Company holds 0.19% or 316,486 shares in its portfolio. The Connecticut-based Greenwich Invest has invested 0.36% in Sunoco LP (NYSE:SUN). Spirit Of America Mgmt Corp holds 0.85% of its portfolio in Sunoco LP (NYSE:SUN) for 194,032 shares. Cullen Frost Bankers owns 13,000 shares or 0.01% of their US portfolio. Commonwealth Of Pennsylvania School Empls Retrmt Sys has 58,522 shares for 0.03% of their US portfolio. Barclays Public Limited Co accumulated 109,170 shares or 0% of the stock. Raymond James Assocs has 30,361 shares for 0% of their US portfolio. Babson Cap Lc has invested 0.03% of its portfolio in Sunoco LP (NYSE:SUN). Benjamin F Edwards last reported 100 shares in the company. Highland Capital Management Lp last reported 0.08% of its portfolio in the stock. Moreover, Burnham Asset Mngmt Corp Ny has 0.4% invested in Sunoco LP (NYSE:SUN) for 48,360 shares. Evercore Wealth Ltd Liability Corp, a New York-based fund reported 600 shares. Pentwater Capital Management Lp accumulated 0.04% or 105,000 shares. First Heartland Consultants Incorporated, a Missouri-based fund reported 14,671 shares. Envestnet Asset Mgmt last reported 0% of its portfolio in the stock.
More notable recent Sunoco LP (NYSE:SUN) news were published by: Wsj.com which released: “Sunoco Logistics to Buy Energy Transfer Partners” on November 21, 2016, also Seekingalpha.com with their article: “Sunoco LP’s Growing Pains” published on November 14, 2016, Fool.com published: “Sunoco LP Shrugs Off Operational Challenges and Turns In Solid Q3 Earnings” on November 11, 2016. More interesting news about Sunoco LP (NYSE:SUN) were released by: Prnewswire.com and their article: “Sunoco LP Announces Third Quarter 2016 Financial and Operating Results” published on November 09, 2016 as well as Prnewswire.com‘s news article titled: “Sunoco LP Maintains Quarterly Distribution” with publication date: October 26, 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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