Baird Downgrades Sunoco LP to Neutral

Brokerage firm Baird Downgrades its rating on Sunoco LP(NYSE:SUN). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Baird was issued on Aug 5, 2016.

In a different note, On Aug 4, 2016, Baird said it Downgrades its rating on Sunoco LP. The shares have been rated ‘Neutral’ by the firm. On Aug 4, 2016, UBS said it Maintains its rating on Sunoco LP. In the research note, the firm Lowers the price-target to $40.00 per share. The shares have been rated ‘Buy’ by the firm. Oppenheimer said it Initiates Coverage on Sunoco LP, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Outperform’ by the firm. On Jun 16, 2016, Barclays said it Maintains its rating on Sunoco LP. In the research note, the firm Lowers the price-target to $37.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jun 8, 2016, Jefferies said it Downgrades its rating on Sunoco LP. In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Underperform’ by the firm.

Sunoco LP (SUN) made into the market gainers list on Wednesdays trading session with the shares advancing 0.46% or 0.14 points. Due to strong positive momentum, the stock ended at $30.8, which is also near the day’s high of $30.89. The stock began the session at $30.89 and the volume stood at 2,67,598 shares. The 52-week high of the shares is $41.05 and the 52 week low is $22.86. The company has a current market capitalization of $3,442 M and it has 11,17,50,566 shares in outstanding.

Sunoco LP(SUN) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.05B. Analysts had an estimated revenue of $4.16B. Earnings per share were $0.53. Analysts had estimated an EPS of $0.49.

Several Insider Transactions has been reported to the SEC. On Sep 11, 2015, Leta Mckinley (VP & Controller) purchased 780 shares at $36.46 per share price.Also, 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.

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