Jump Financial LLC Acquires Shares of 5,380 Sunoco LP $SUN

Key Points

• Jump Financial LLC has acquired a new position in Sunoco LP, purchasing 5,380 shares valued at approximately $312,000 in the first quarter.
• Sunoco recently declared a quarterly dividend of $0.9088, raising its annualized dividend yield to 7.0%, although the company has a high dividend payout ratio of 179.31%.
• Despite missing analysts' earnings expectations, Sunoco has received positive analyst ratings, with an average rating of "Buy" and a target price of $64.50.

Jump Financial LLC bought a new stake in shares of Sunoco LP (NYSE:SUN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,380 shares of the oil and gas company's stock, valued at approximately $312,000.

Other hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 2,529,170 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Sunoco by 3.3% during the first quarter. Invesco Ltd. now owns 9,165,717 shares of the oil and gas company's stock worth $532,162,000 after purchasing an additional 296,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sunoco by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company's stock worth $134,192,000 after acquiring an additional 128,042 shares during the last quarter. Recurrent Investment Advisors LLC boosted its stake in shares of Sunoco by 2.9% in the 4th quarter. Recurrent Investment Advisors LLC now owns 888,862 shares of the oil and gas company's stock valued at $45,723,000 after purchasing an additional 24,686 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in shares of Sunoco by 15.5% in the 1st quarter. Miller Howard Investments Inc. NY now owns 687,244 shares of the oil and gas company's stock valued at $39,901,000 after acquiring an additional 92,187 shares during the period. Institutional investors and hedge funds own 24.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SUN shares. JPMorgan Chase & Co. boosted their target price on shares of Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Mizuho reduced their target price on Sunoco from $67.00 to $66.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Sunoco presently has an average rating of "Buy" and a consensus target price of $64.50.

Sunoco Trading Down 0.4%

Sunoco stock traded down $0.21 during mid-day trading on Monday, hitting $50.65. The company's stock had a trading volume of 160,571 shares, compared to its average volume of 424,212. The firm has a market capitalization of $7.75 billion, a PE ratio of 24.90 and a beta of 0.58. 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 fifty day moving average is $52.81 and its two-hundred day moving average is $54.82.

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). Sunoco had a net margin of 2.02% and a return on equity of 10.57%. The business had revenue of $5.39 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same period in the prior year, the firm posted $3.85 EPS. Sunoco's revenue for the quarter was down 12.7% compared to the same quarter last year. On average, analysts anticipate 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. Shareholders of record on Friday, August 8th were paid a dividend of $0.9088 per share. This is a positive change from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Friday, August 8th. Sunoco's payout ratio is currently 179.31%.

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.