Crescent Grove Advisors LLC Buys Shares of 25,805 Sunoco LP (NYSE:SUN)

Crescent Grove Advisors LLC purchased a new stake in shares of Sunoco LP (NYSE:SUN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,805 shares of the oil and gas company's stock, valued at approximately $1,498,000.

Several other hedge funds have also made changes to their positions in SUN. International Assets Investment Management LLC lifted its stake in Sunoco by 1.9% in the 1st quarter. International Assets Investment Management LLC now owns 11,252 shares of the oil and gas company's stock worth $653,000 after acquiring an additional 208 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Sunoco by 7.3% in the first quarter. Oppenheimer & Co. Inc. now owns 7,365 shares of the oil and gas company's stock worth $428,000 after purchasing an additional 500 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Sunoco by 51.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,884 shares of the oil and gas company's stock worth $400,000 after purchasing an additional 2,353 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Sunoco during the first quarter valued at approximately $204,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Sunoco by 4.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,232 shares of the oil and gas company's stock valued at $1,465,000 after buying an additional 1,144 shares during the period. Hedge funds and other institutional investors own 24.29% of the company's stock.

Sunoco Stock Down 0.8%

Shares of Sunoco stock traded down $0.43 during midday trading on Tuesday, reaching $53.16. 190,005 shares of the company's stock traded hands, compared to its average volume of 449,098. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.86 and a current ratio of 1.55. Sunoco LP has a 52 week low of $48.00 and a 52 week high of $59.88. The company's 50 day simple moving average is $55.16 and its 200 day simple moving average is $55.38. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 9.58 and a beta of 0.62.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.48). Sunoco had a return on equity of 20.34% and a net margin of 3.80%. The company 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 company posted $2.26 EPS. The business's revenue 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 fiscal year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were issued a $0.8976 dividend. This represents a $3.59 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Sunoco's previous quarterly dividend of $0.89. Sunoco's dividend payout ratio (DPR) is 64.68%.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of research reports. Mizuho lifted their target price on shares of Sunoco from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. JPMorgan Chase & Co. lifted their price objective on Sunoco from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Barclays lowered their target price on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Sunoco currently has an average rating of "Moderate Buy" and an average target price of $64.75.

About Sunoco

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.