Counterpoint Mutual Funds LLC Purchases 123,413 Shares of Sunoco LP $SUN

Key Points

• Counterpoint Mutual Funds LLC acquired 123,413 Sunoco shares worth approximately $8.99 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 24.29% of Sunoco.
• Sunoco reported quarterly revenue of $14.26 billion, up 164.5% year over year, but earnings per share of $0.94 fell short of the $2.50 analyst consensus. Analysts expect full-year EPS of $9.57.
• Sunoco raised its quarterly dividend to $1.0023, equivalent to an annualized $4.01 payout and a 5.5% yield. Wall Street maintains a generally positive view, with an average “Buy” rating and a $79.38 price target.

Counterpoint Mutual Funds LLC purchased a new position in shares of Sunoco LP (NYSE:SUN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 123,413 shares of the oil and gas company's stock, valued at approximately $8,993,000. Counterpoint Mutual Funds LLC owned about 0.06% of Sunoco at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. TD Waterhouse Canada Inc. increased its position in shares of Sunoco by 198.2% during the third quarter. TD Waterhouse Canada Inc. now owns 978 shares of the oil and gas company's stock worth $73,000 after acquiring an additional 650 shares during the period. Ulland Investment Advisors LLC increased its position in shares of Sunoco by 8.5% in the 3rd quarter. Ulland Investment Advisors LLC now owns 7,000 shares of the oil and gas company's stock valued at $510,000 after purchasing an additional 550 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Sunoco by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 82,908 shares of the oil and gas company's stock valued at $5,596,000 after purchasing an additional 9,236 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Sunoco during the second quarter worth $243,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Sunoco during the 2nd quarter worth about $190,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Performance

NYSE:SUN opened at $73.26 on Friday. Sunoco LP has a twelve month low of $49.98 and a twelve month high of $80.22. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of 16.21 and a beta of 0.43. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.95. The firm's fifty day simple moving average is $75.34 and its 200 day simple moving average is $70.73.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($1.56). Sunoco had a return on equity of 18.78% and a net margin of 2.88%. The company had revenue of $14.26 billion during the quarter, compared to analysts' expectations of $11.05 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The firm's revenue was up 164.5% compared to the same quarter last year. As a group, equities research analysts expect that Sunoco LP will post 9.57 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were paid a $1.0023 dividend. This represents a $4.01 dividend on an annualized basis and a yield of 5.5%. This is a positive change from Sunoco's previous quarterly dividend of $0.9899. The ex-dividend date was Friday, August 7th. Sunoco's payout ratio is 88.72%.

Wall Street Analyst Weigh In

SUN has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Sunoco from $73.00 to $84.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Barclays reissued an "overweight" rating and issued a $83.00 target price on shares of Sunoco in a report on Thursday. Mizuho set a $83.00 price objective on shares of Sunoco in a research report on Friday, July 24th. Wall Street Zen downgraded shares of Sunoco from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Wells Fargo & Company lifted their price objective on Sunoco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Sunoco presently has an average rating of "Buy" and an average price target of $79.38.

About Sunoco

Sunoco LP is a publicly traded master limited partnership that distributes and markets motor fuel in the United States. The company supplies gasoline, diesel, and other refined products to independent dealers, commercial customers, distributors, and convenience-store operators. It also supports fuel sales through the Sunoco brand, which is licensed to retail locations operated by third parties.

In addition to fuel distribution, Sunoco owns and operates a network of refined-product terminals and pipelines used to receive, store, transport, and deliver motor fuels and other petroleum products.

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