Mizuho Securities Initiates Coverage on Sunoco LP to Neutral

Mizuho Securities Initiates Coverage on Sunoco LP(NYSE:SUN). The shares have been rated Neutral. The rating by Mizuho Securities was issued on Sep 30, 2016.

In a different note, Citigroup said it Initiates Coverage on Sunoco LP, according to a research note issued on Sep 23, 2016. The shares have been rated ‘Neutral’ by the firm. FBR Capital said it Initiates Coverage on Sunoco LP, according to a research note issued on Sep 9, 2016. The shares have been rated ‘Market Perform’ by the firm. On Aug 15, 2016, Morgan Stanley said it Assumes its rating on Sunoco LP. The shares have been rated ‘Equal-weight’ by the firm. On Aug 5, 2016, Baird said it Downgrades its rating on Sunoco LP. The shares have been rated ‘Neutral’ by the firm. On Aug 5, 2016, Barclays said it Maintains its rating on Sunoco LP. In the research note, the firm Lowers the price-target to $32.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Aug 4, 2016, Baird said it Downgrades its rating on Sunoco LP. The shares have been rated ‘Neutral’ by the firm.

Sunoco LP (SUN) shares turned negative on Tuesdays trading session with the shares closing down -0.42 points or -1.44% at a volume of 4,05,805. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $29.28. The peak price level was also seen at $29.28 while the days lowest was $28.52. Finally the shares closed at $28.77. The 52-week high of the shares is $40.06 while the 52-week low is $22.86. According to the latest information available, the market cap of the company is $3,215 M.

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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