Trading Report: The Q3 2016 Earnings Forecast for Sunoco LP Issued By Jefferies Group (SUN)

The Q3 2016 Earnings Forecast for Sunoco LP Issued By Jefferies Group (SUN)

Sunoco LP (NYSE:SUN) – Equities researchers at Jefferies Group issued their Q3 2016 earnings per share estimates for Sunoco in a report issued on Thursday. Jefferies Group analyst C. Sighinolfi anticipates that the brokerage will post earnings of $0.31 per share for the quarter. Jefferies Group also issued estimates for Sunoco’s FY2016 earnings at $1.74 EPS and FY2017 earnings at $1.24 EPS.

SUN has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Sunoco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 5th. Vetr raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $31.33 price target on the stock in a report on Monday, September 12th. Citigroup Inc. started coverage on shares of Sunoco in a report on Friday, September 23rd. They issued a “neutral” rating and a $30.00 price target on the stock. Mizuho started coverage on shares of Sunoco in a research note on Thursday, September 29th. They issued a “neutral” rating and a $31.00 price objective for the company. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of Sunoco in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $34.76.

Shares of Sunoco (NYSE:SUN) opened at 28.67 on Monday. Sunoco has a 1-year low of $22.86 and a 1-year high of $40.06. The firm has a 50-day moving average of $29.46 and a 200 day moving average of $31.17. The company has a market capitalization of $3.20 billion, a P/E ratio of 24.07 and a beta of 0.67.

Hedge funds and other institutional investors have recently modified their holdings of the company. Cohen & Steers Inc. raised its position in shares of Sunoco by 1,155,502.3% in the second quarter. Cohen & Steers Inc. now owns 2,022,304 shares of the company’s stock valued at $516,881,000 after buying an additional 2,022,129 shares during the period. Royal Bank of Canada raised its position in shares of Sunoco by 8.3% in the second quarter. Royal Bank of Canada now owns 1,129,546 shares of the company’s stock valued at $33,830,000 after buying an additional 86,207 shares during the last quarter. TPH Asset Management LLC raised its position in shares of Sunoco by 22.7% in the first quarter. TPH Asset Management LLC now owns 858,618 shares of the company’s stock valued at $27,751,000 after buying an additional 158,563 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Sunoco by 166.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 813,000 shares of the company’s stock valued at $23,585,000 after buying an additional 508,000 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Sunoco during the second quarter valued at about $15,544,000. Institutional investors and hedge funds own 41.96% of the company’s stock.

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