Invesco Ltd. Grows Stock Holdings in Sunoco LP (NYSE:SUN)

Key Points

• Invesco Ltd. increased its stake in Sunoco LP by 3.3% during the first quarter, owning 9,165,717 shares valued at approximately $532 million.
• Sunoco announced a quarterly dividend of $0.9088, a slight increase from the previous $0.90, resulting in a 7.0% yield.
• Recent earnings showed Sunoco reported $0.33 earnings per share, significantly missing the consensus estimate of $1.68, with revenue declining 12.7% year-over-year.

Invesco Ltd. increased its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,165,717 shares of the oil and gas company's stock after purchasing an additional 296,791 shares during the quarter. Invesco Ltd. owned approximately 6.00% of Sunoco worth $532,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC lifted its stake in shares of Sunoco by 15.8% during the 1st quarter. Townsquare Capital LLC now owns 4,512 shares of the oil and gas company's stock valued at $262,000 after buying an additional 616 shares in the last quarter. NBW Capital LLC bought a new position in shares of Sunoco in the 1st quarter worth $4,330,000. IPG Investment Advisors LLC bought a new position in shares of Sunoco in the 1st quarter worth $218,000. Delta Financial Group Inc. bought a new position in shares of Sunoco during the 1st quarter valued at $518,000. Finally, Moors & Cabot Inc. raised its position in Sunoco by 8.4% in the 1st quarter. Moors & Cabot Inc. now owns 15,424 shares of the oil and gas company's stock worth $896,000 after purchasing an additional 1,200 shares during the period. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Stock Up 0.6%

SUN traded up $0.32 during midday trading on Friday, reaching $52.59. The company's stock had a trading volume of 192,179 shares, compared to its average volume of 431,126. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 25.92 and a beta of 0.60. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90. Sunoco LP has a 1 year low of $48.00 and a 1 year high of $59.88. The stock's 50-day moving average is $53.19 and its 200-day moving average is $55.46.

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

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be paid a $0.9088 dividend. This is a boost from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, August 8th. Sunoco's payout ratio is currently 179.31%.

Wall Street Analysts Forecast Growth

SUN has been the topic of a number of analyst reports. Mizuho decreased their target price on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. JPMorgan Chase & Co. lifted their target price 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.

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.