Sunoco LP (SUN) : Traders are bullish on Sunoco LP (SUN) as it has outperformed the S&P 500 by a wide margin of 0.82% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.07%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.12% in the last 1 week, and is up 1.86% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.31% and the 50-Day Moving Average is 3.39%. Sunoco LP (NYSE:SUN): stock turned positive on Friday. Though the stock opened at $29.9, the bulls momentum made the stock top out at $30.85 level for the day. The stock recorded a low of $29.63 and closed the trading day at $30.59, in the green by 3.10%. The total traded volume for the day was 568,991. The stock had closed at $29.67 in the previous days trading.
Institutional Investors own 33.38% of Sunoco LP shares. Also, Major Brokerage house, Baird downgrades its ratings on Sunoco LP (NYSE:SUN). According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on August 5, 2016.
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the fee-based wholesale distribution of motor fuels to Susser and third parties in Texas, New Mexico, Oklahoma, Louisiana, Kansas, Maryland, Virginia, Tennessee, Georgia and Hawaii. The Company is also engaged in the retail sale of motor fuel and the operation of convenience stores through its subsidiaries. It operates in two segments: Wholesale operations segment, which sells motor fuel to its retail segment and external customers, and Retail operations segment, which operates convenience stores selling a variety of merchandise, food items, services and motor fuel. It operates through its subsidiaries: Susser Petroleum Operating Company LLC, T&C Wholesale LLC, Susser Energy Services LLC, Susser Petroleum Property Company LLC, Southside Oil, LLC and Aloha Petroleum, Ltd, among others. It distributes motor fuel under the Chevron, Citgo, Conoco, Exxon, Mobil, Phillips66, Shamrock, Texaco, and Mahalo brands, among others.