Sunoco LP (SUN) is Initiated by Mizuho to Neutral, Price Target at $31

Sunoco LP (SUN) was Initiated by Mizuho to “Neutral” and the brokerage firm has set the Price Target at $31. Mizuho advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on Sunoco LP. Sunoco LP was Initiated by Citigroup to “Neutral” on Sep 23, 2016. FBR Capital Initiated Sunoco LP on Sep 9, 2016 to “Mkt Perform”, Price Target of the shares are set at $32.Sunoco LP was Resumed by Morgan Stanley to “Equal-Weight” on Aug 15, 2016.

On the company’s financial health, Sunoco LP reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Nov 4, 2015. Analyst had a consensus of $0.62. The company had revenue of $4487.30 million for the quarter, compared to analysts expectations of $4078.68 million. The company’s revenue was up 243.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Sunoco LP closed down -0.22 points or -0.74% at $29.53 with 1,93,819 shares getting traded on Tuesday. Post opening the session at $29.81, the shares hit an intraday low of $29.45 and an intraday high of $29.87 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 11, 2015, Leta Mckinley (VP & Controller) purchased 780 shares at $36.46 per share price. According to the SEC, on Aug 19, 2015, K Rick Turner (director) purchased 3,000 shares at $40.08 per share price.

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.

Sunoco LP

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