Delta Financial Group Inc. Purchases New Shares in Sunoco LP (NYSE:SUN)

Key Points

• Delta Financial Group Inc. has invested $518,000 in Sunoco LP by acquiring 9,094 shares in the first quarter.
• Sunoco recently increased its quarterly dividend to $0.9088 per share, representing an annualized dividend of $3.64 and a yield of 6.8%.
• The company reported a loss in quarterly earnings with EPS of $1.21, falling short of analysts' expectations of $1.69.

Delta Financial Group Inc. purchased a new position in shares of Sunoco LP (NYSE:SUN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,094 shares of the oil and gas company's stock, valued at approximately $518,000.

A number of other institutional investors also recently bought and sold shares of SUN. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Sunoco in the fourth quarter valued at about $31,000. Transce3nd LLC purchased a new stake in shares of Sunoco in the fourth quarter valued at about $90,000. Huntington National Bank boosted its holdings in Sunoco by 440.3% during the fourth quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company's stock worth $92,000 after buying an additional 1,453 shares in the last quarter. State of Wyoming purchased a new stake in Sunoco during the fourth quarter worth about $102,000. Finally, IFP Advisors Inc boosted 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 buying an additional 419 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on SUN. JPMorgan Chase & Co. boosted their price objective 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 decreased their price objective on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, July 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Sunoco currently has an average rating of "Moderate Buy" and a consensus target price of $64.75.

Sunoco Trading Down 1.3%

Shares of NYSE:SUN traded down $0.69 during trading on Tuesday, reaching $53.55. The stock had a trading volume of 91,875 shares, compared to its average volume of 429,914. The business has a fifty day moving average price of $53.54 and a 200-day moving average price of $55.63. The company has a quick ratio of 0.86, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a market cap of $8.18 billion, a P/E ratio of 9.67 and a beta of 0.60. Sunoco LP has a fifty-two week low of $48.00 and a fifty-two week high of $59.88.

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

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.9088 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.64 annualized dividend and a dividend yield of 6.8%. This is a boost from Sunoco's previous quarterly dividend of $0.90. Sunoco's dividend payout ratio is presently 65.41%.

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.