Sunoco LP (NYSE:SUN) Shares Purchased by Creative Planning

Creative Planning raised its position in Sunoco LP (NYSE:SUN – Get Rating) by 17.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,969 shares of the oil and gas company’s stock after purchasing an additional 3,269 shares during the quarter. Creative Planning’s holdings in Sunoco were worth $947,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Belpointe Asset Management LLC purchased a new position in Sunoco during the fourth quarter worth about $78,000. Captrust Financial Advisors raised its position in Sunoco by 60.3% in the first quarter. Captrust Financial Advisors now owns 2,549 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 959 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in Sunoco by 46.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,069 shares of the oil and gas company’s stock worth $175,000 after purchasing an additional 1,299 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Sunoco during the third quarter worth $204,000. Finally, Centennial Wealth Advisory LLC acquired a new stake in shares of Sunoco in the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 16.16% of the company’s stock.

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Sunoco Price Performance

Shares of NYSE SUN opened at $44.04 on Wednesday. The stock’s 50-day simple moving average is $44.25 and its 200-day simple moving average is $44.37. The firm has a market capitalization of $4.42 billion, a PE ratio of 11.65 and a beta of 1.33. Sunoco LP has a fifty-two week low of $34.26 and a fifty-two week high of $48.59. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 1.48.

Sunoco (NYSE:SUN – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.20. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.01 billion. Sunoco had a net margin of 1.56% and a return on equity of 41.03%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.32 EPS. As a group, equities research analysts forecast that Sunoco LP will post 4.62 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 8th were issued a dividend of $0.842 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, May 5th. This represents a $3.37 annualized dividend and a dividend yield of 7.65%. Sunoco’s dividend payout ratio (DPR) is presently 89.15%.

Analyst Ratings Changes

A number of brokerages recently commented on SUN. Raymond James raised their target price on Sunoco from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, April 21st. StockNews.com began coverage on shares of Sunoco in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Barclays raised their price target on shares of Sunoco from $48.00 to $51.00 in a research report on Tuesday, April 18th. Stifel Nicolaus upped their price objective on Sunoco from $49.00 to $50.00 in a research report on Thursday, May 11th. Finally, Mizuho boosted their target price on Sunoco from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.29.

Sunoco Profile

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Sunoco LP engages in the management and distribution of fuel products. It operates through Fuel Distribution and Marketing and All Other segments. The Fuel Distribution and Marketing segment supplies fuels and other petroleum products, which it supplies to third-party dealers and distributors, independent operators of commission agent, other commercial consumers of motor fuel and to retail locations.

Further Reading

• Get a free copy of the StockNews.com research report on Sunoco (SUN)
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