Allianz Asset Management GmbH raised its holdings in Sunoco LP (NYSE:SUN - Free Report) by 59.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 304,500 shares of the oil and gas company's stock after purchasing an additional 113,600 shares during the period. Allianz Asset Management GmbH owned approximately 0.20% of Sunoco worth $17,679,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. J.W. Cole Advisors Inc. boosted its holdings in shares of Sunoco by 785.1% during the 1st quarter. J.W. Cole Advisors Inc. now owns 70,258 shares of the oil and gas company's stock worth $4,079,000 after buying an additional 62,320 shares in the last quarter. IFP Advisors Inc increased its position in shares of Sunoco by 17.1% during the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company's stock valued at $166,000 after acquiring an additional 419 shares during the last quarter. Sigma Planning Corp raised its stake in shares of Sunoco by 1.7% during the 1st quarter. Sigma Planning Corp now owns 18,301 shares of the oil and gas company's stock worth $1,063,000 after purchasing an additional 309 shares during the period. Stephens Inc. AR purchased a new position in Sunoco in the first quarter valued at about $442,000. Finally, Alps Advisors Inc. increased its position in Sunoco by 12.3% in the first quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company's stock worth $1,343,080,000 after buying an additional 2,529,170 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.
Analysts Set New Price Targets
SUN has been the topic of a number of analyst reports. Barclays decreased their price objective on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Mizuho cut their price objective on Sunoco from $68.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $64.75.
Check Out Our Latest Report on Sunoco
Sunoco Stock Performance
NYSE SUN traded up $0.03 on Friday, hitting $53.51. 202,159 shares of the company traded hands, compared to its average volume of 353,386. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 9.64 and a beta of 0.61. Sunoco LP has a 52-week low of $48.00 and a 52-week high of $59.88. The business's 50 day moving average price is $53.73 and its 200-day moving average price is $55.52. The company has a current ratio of 1.55, a quick ratio of 0.86 and a debt-to-equity ratio of 1.85.
Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.48). Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter last year, the business earned $2.26 EPS. Sunoco's revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts expect that Sunoco LP will post 10.65 earnings per share for the current year.
Sunoco Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be paid a $0.9088 dividend. This is an increase from Sunoco's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.64 dividend on an annualized basis and a yield of 6.79%. Sunoco's payout ratio is 64.68%.
About Sunoco
(
Free Report)
Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.
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