Fintel reports that on October 10, 2023, JP Morgan maintained coverage of Sunoco LP - Unit (NYSE:SUN) with a Neutral recommendation.
Analyst Price Forecast Suggests 1.99% Upside
As of October 5, 2023, the average one-year price target for Sunoco LP - Unit is 51.87. The forecasts range from a low of 47.47 to a high of $56.70. The average price target represents an increase of 1.99% from its latest reported closing price of 50.86.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sunoco LP - Unit is 20,914MM, a decrease of 11.45%. The projected annual non-GAAP EPS is 4.49.
Sunoco LP - Unit Declares $0.84 Dividend
On July 25, 2023 the company declared a regular quarterly dividend of $0.84 per share ($3.37 annualized). Shareholders of record as of August 14, 2023 received the payment on August 21, 2023. Previously, the company paid $0.84 per share.
At the current share price of $50.86 / share, the stock's dividend yield is 6.62%.
Looking back five years and taking a sample every week, the average dividend yield has been 10.05%, the lowest has been 6.77%, and the highest has been 24.98%. The standard deviation of yields is 2.62 (n=236).
The current dividend yield is 1.31 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.77. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.02%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 212 funds or institutions reporting positions in Sunoco LP - Unit. This is an increase of 4 owner(s) or 1.92% in the last quarter. Average portfolio weight of all funds dedicated to SUN is 0.24%, a decrease of 5.27%. Total shares owned by institutions decreased in the last three months by 0.80% to 25,503K shares. 
The put/call ratio of SUN is 0.26, indicating a bullish outlook.
What are Other Shareholders Doing?
Invesco holds 5,338K shares representing 6.35% ownership of the company. In it's prior filing, the firm reported owning 5,665K shares, representing a decrease of 6.11%. The firm increased its portfolio allocation in SUN by 849.58% over the last quarter.
MLPRX - Invesco Oppenheimer SteelPath MLP Income Fund Class C holds 3,709K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 3,882K shares, representing a decrease of 4.65%. The firm decreased its portfolio allocation in SUN by 6.30% over the last quarter.
Goldman Sachs Group holds 2,565K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 2,510K shares, representing an increase of 2.16%. The firm increased its portfolio allocation in SUN by 229.72% over the last quarter.
MLPEX - Invesco Oppenheimer SteelPath MLP Select 40 Fund Class C holds 1,795K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 1,820K shares, representing a decrease of 1.39%. The firm increased its portfolio allocation in SUN by 1.03% over the last quarter.
Blackstone Group holds 1,543K shares representing 1.84% ownership of the company. In it's prior filing, the firm reported owning 1,464K shares, representing an increase of 5.15%. The firm increased its portfolio allocation in SUN by 49.85% over the last quarter.
Sunoco Background Information
(This description is provided by the company.)
Sunoco LP is a master limited partnership with core operations that include the distribution of motor fuel to approximately 10,000 convenience stores, independent dealers, commercial customers and distributors located in more than 30 states as well as re ned product transportation and terminalling assets.
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