Crescent Grove Advisors LLC purchased a new stake in shares of Sunoco LP (NYSE:SUN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 25,805 shares of the oil and gas company's stock, valued at approximately $1,498,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. purchased a new stake in shares of Sunoco during the 4th quarter valued at approximately $256,000. Virtu Financial LLC bought a new stake in Sunoco during the 4th quarter valued at $239,000. Icon Advisers Inc. Co. purchased a new stake in shares of Sunoco during the fourth quarter worth $1,852,000. Raymond James Financial Inc. purchased a new stake in shares of Sunoco during the fourth quarter worth $17,739,000. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of Sunoco by 16.7% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 111,630 shares of the oil and gas company's stock worth $5,742,000 after acquiring an additional 15,968 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Barclays decreased their price target on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Finally, Mizuho upped their target price on shares of Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.75.
View Our Latest Report on Sunoco
Sunoco Stock Performance
SUN stock traded up $1.09 on Friday, hitting $54.31. The company had a trading volume of 523,489 shares, compared to its average volume of 440,635. Sunoco LP has a 12-month low of $48.00 and a 12-month high of $59.88. The company has a current ratio of 1.55, a quick ratio of 0.86 and a debt-to-equity ratio of 1.85. The stock's 50-day simple moving average is $55.22 and its 200 day simple moving average is $55.36. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 9.78 and a beta of 0.62.
Sunoco (NYSE:SUN - Get Free Report) last announced 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). The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.58 billion. Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 earnings per share. As a group, equities research analysts expect that Sunoco LP will post 10.65 earnings per share for the current fiscal year.
Sunoco Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.8976 per share. The ex-dividend date was Friday, May 9th. This is a boost from Sunoco's previous quarterly dividend of $0.89. This represents a $3.59 dividend on an annualized basis and a dividend yield of 6.61%. Sunoco's payout ratio is currently 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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