GPS Wealth Strategies Group LLC Invests $46,000 in Sunoco LP (NYSE:SUN)

Posted by on Jul 2nd, 2023

GPS Wealth Strategies Group LLC bought a new position in shares of Sunoco LP (NYSE:SUN – Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 1,038 shares of the oil and gas company’s stock, valued at approximately $46,000.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Sunoco during the 4th quarter worth $26,000. ICA Group Wealth Management LLC bought a new stake in Sunoco in the 4th quarter valued at about $43,000. Belpointe Asset Management LLC bought a new stake in Sunoco in the 4th quarter valued at about $78,000. Captrust Financial Advisors raised its stake in Sunoco by 60.3% in the 1st quarter. Captrust Financial Advisors now owns 2,549 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 959 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its holdings in Sunoco by 46.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,069 shares of the oil and gas company’s stock valued at $175,000 after buying an additional 1,299 shares in the last quarter. 17.66% of the stock is currently owned by institutional investors.

Sunoco Stock Down 0.2 %

Shares of SUN opened at $43.56 on Friday. The firm has a market cap of $4.38 billion, a P/E ratio of 11.52 and a beta of 1.33. The stock has a 50 day simple moving average of $44.07 and a two-hundred day simple moving average of $44.50. The company has a debt-to-equity ratio of 3.47, a current ratio of 1.48 and a quick ratio of 0.83. Sunoco LP has a 1 year low of $34.62 and a 1 year high of $48.59.

Sunoco (NYSE:SUN – Free Report) last issued its earnings results on Tuesday, May 2nd. The oil and gas company reported $1.41 earnings per share (EPS) 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 analyst estimates of $5.01 billion. Sunoco had a return on equity of 41.03% and a net margin of 1.56%. Sunoco’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.32 earnings per share. On average, analysts forecast that Sunoco LP will post 4.1 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 8th were paid a $0.842 dividend. The ex-dividend date was Friday, May 5th. This represents a $3.37 annualized dividend and a yield of 7.73%. This is a positive change from Sunoco’s previous quarterly dividend of $0.83. Sunoco’s dividend payout ratio is currently 89.15%.

Analysts Set New Price Targets

SUN has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Sunoco in a report on Thursday, May 18th. They set a “buy” rating for the company. Barclays lifted their target price on Sunoco from $48.00 to $51.00 in a report on Tuesday, April 18th. Raymond James boosted their price objective on Sunoco from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Finally, Stifel Nicolaus boosted their price objective on Sunoco from $49.00 to $50.00 in a report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunoco currently has an average rating of “Moderate Buy” and an average price target of $50.29.

Sunoco Profile

(Free Report)

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The company's Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel to commission agent locations.

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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