Fractal Investments LLC Purchases 63,774 Shares of Sunoco LP $SUN

Key Points

• Fractal Investments LLC increased its stake in Sunoco LP by 11.5%, acquiring an additional 63,774 shares during the 2nd quarter, raising its total ownership to 616,542 shares valued at approximately $33 million.
• Sunoco reported earnings per share of $0.33 for the quarter, missing estimates of $1.68, with year-over-year revenue down 12.7% to $5.39 billion.
• The company increased its quarterly dividend to $0.9088, representing an annual yield of 7.2%, despite a high payout ratio of 179.31%.

Fractal Investments LLC boosted its position in Sunoco LP (NYSE:SUN - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 616,542 shares of the oil and gas company's stock after acquiring an additional 63,774 shares during the quarter. Sunoco accounts for about 4.7% of Fractal Investments LLC's holdings, making the stock its 7th biggest holding. Fractal Investments LLC owned 0.40% of Sunoco worth $33,040,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SUN. Alps Advisors Inc. increased its stake in Sunoco by 12.3% in the first quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company's stock valued at $1,343,080,000 after purchasing an additional 2,529,170 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sunoco by 14.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,978,209 shares of the oil and gas company's stock valued at $172,915,000 after purchasing an additional 369,508 shares during the last quarter. Invesco Ltd. increased its stake in Sunoco by 3.3% in the first quarter. Invesco Ltd. now owns 9,165,717 shares of the oil and gas company's stock valued at $532,162,000 after purchasing an additional 296,791 shares during the last quarter. Cooperman Leon G purchased a new position in Sunoco in the first quarter valued at approximately $16,547,000. Finally, Neuberger Berman Group LLC increased its stake in Sunoco by 29.4% in the first quarter. Neuberger Berman Group LLC now owns 644,512 shares of the oil and gas company's stock valued at $37,420,000 after purchasing an additional 146,621 shares during the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Stock Performance

Shares of SUN opened at $50.15 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90. The firm has a market cap of $7.67 billion, a PE ratio of 24.71 and a beta of 0.58. The company's 50 day simple moving average is $52.44 and its 200-day simple moving average is $54.59. Sunoco LP has a 12-month low of $48.00 and a 12-month high of $59.88.

Sunoco (NYSE:SUN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.68 by ($1.35). Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The business had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter last year, the business posted $3.85 earnings per share. The business's revenue was down 12.7% on a year-over-year basis. As a group, equities analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.9088 dividend. This is a positive change from Sunoco's previous quarterly dividend of $0.90. The ex-dividend date was Friday, August 8th. This represents a $3.64 dividend on an annualized basis and a yield of 7.2%. Sunoco's payout ratio is 179.31%.

Analyst Upgrades and Downgrades

SUN has been the topic of several recent analyst reports. Mizuho dropped their price target on shares of Sunoco from $67.00 to $66.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. JPMorgan Chase & Co. increased their price target on shares of Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $64.50.

Sunoco Company 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.

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