Sunoco LP (NYSE:SUN) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in Sunoco LP (NYSE:SUN - Free Report) by 59.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,500 shares of the oil and gas company's stock after acquiring an additional 113,600 shares during the period. Allianz Asset Management GmbH owned about 0.20% of Sunoco worth $17,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. J.W. Cole Advisors Inc. raised its holdings in shares of Sunoco by 785.1% in the first quarter. J.W. Cole Advisors Inc. now owns 70,258 shares of the oil and gas company's stock valued at $4,079,000 after buying an additional 62,320 shares during the last quarter. IFP Advisors Inc raised its holdings in Sunoco by 17.1% during the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company's stock worth $166,000 after purchasing an additional 419 shares in the last quarter. Sigma Planning Corp raised its holdings in Sunoco by 1.7% during the first 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 in the last quarter. Stephens Inc. AR purchased a new position in Sunoco during the first quarter worth about $442,000. Finally, Alps Advisors Inc. raised its holdings in Sunoco by 12.3% during 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 purchasing an additional 2,529,170 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Mizuho lowered their target price on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Sunoco currently has an average rating of "Moderate Buy" and an average price target of $64.75.

Sunoco Price Performance

SUN traded up $0.25 on Monday, hitting $53.76. 97,060 shares of the company were exchanged, compared to its average volume of 435,773. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.86 and a current ratio of 1.55. The business's fifty day moving average is $53.68 and its 200 day moving average is $55.58. Sunoco LP has a fifty-two week low of $48.00 and a fifty-two week high of $59.88. The firm has a market capitalization of $8.21 billion, a P/E ratio of 9.69 and a beta of 0.61.

Sunoco (NYSE:SUN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.48). The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.58 billion. Sunoco had a return on equity of 20.34% and a net margin of 3.80%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. As a group, sell-side analysts anticipate that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a $0.9088 dividend. The ex-dividend date is Friday, August 8th. This is a positive change from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 6.76%. Sunoco's dividend payout ratio is currently 64.68%.

Sunoco Profile

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.