Cambridge Investment Research Advisors Inc. grew its stake in Sunoco LP (NYSE:SUN – Free Report) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,609 shares of the oil and gas company’s stock after purchasing an additional 238 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Sunoco were worth $941,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of SUN. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Sunoco in the fourth quarter valued at about $26,000. Steward Partners Investment Advisory LLC bought a new position in shares of Sunoco in the first quarter worth $26,000. Key Financial Inc increased its position in shares of Sunoco by 7,627.3% in the first quarter. Key Financial Inc now owns 850 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 839 shares during the period. Harbour Investments Inc. increased its position in shares of Sunoco by 62.7% in the first quarter. Harbour Investments Inc. now owns 965 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 372 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in shares of Sunoco in the fourth quarter worth $43,000. 17.62% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Mizuho lowered shares of Sunoco from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research report on Friday, September 29th. Barclays dropped their price objective on Sunoco from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 14th. Finally, StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunoco has an average rating of “Hold” and a consensus target price of $50.14.
Sunoco Trading Up 1.1 %
Shares of SUN stock opened at $47.56 on Friday. The stock’s fifty day simple moving average is $46.00 and its 200 day simple moving average is $44.76. The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 3.67. Sunoco LP has a twelve month low of $38.20 and a twelve month high of $51.85. The firm has a market capitalization of $4.78 billion, a P/E ratio of 14.15 and a beta of 1.26.
Sunoco (NYSE:SUN – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.24). Sunoco had a return on equity of 37.36% and a net margin of 1.55%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. As a group, sell-side analysts predict that Sunoco LP will post 4.23 EPS for the current fiscal year.
Sunoco Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 14th were given a dividend of $0.842 per share. This represents a $3.37 annualized dividend and a yield of 7.08%. The ex-dividend date was Friday, August 11th. Sunoco’s dividend payout ratio is currently 100.30%.
Sunoco Profile
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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