Jump Financial LLC Makes New Investment in 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 purchased a new position in shares of Sunoco LP (NYSE:SUN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,380 shares of the oil and gas company's stock, valued at approximately $312,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its position in Sunoco by 110.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company's stock worth $118,000 after purchasing an additional 1,069 shares during the period. CW Advisors LLC purchased a new position in Sunoco in the 1st quarter valued at about $1,129,000. Summit Financial LLC boosted its position in Sunoco by 21.9% in the 1st quarter. Summit Financial LLC now owns 93,180 shares of the oil and gas company's stock valued at $5,410,000 after buying an additional 16,732 shares during the last quarter. Ethos Financial Group LLC purchased a new position in Sunoco in the 1st quarter valued at about $452,000. Finally, Raymond James Financial Inc. boosted its position in Sunoco by 0.6% in the 1st quarter. Raymond James Financial Inc. now owns 346,963 shares of the oil and gas company's stock valued at $20,145,000 after buying an additional 2,124 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Down 0.0%

Shares of SUN stock traded down $0.02 during trading hours on Tuesday, hitting $51.12. 62,940 shares of the company were exchanged, compared to its average volume of 422,964. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52. Sunoco LP has a one year low of $48.00 and a one year high of $59.88. The business's 50-day simple moving average is $52.75 and its two-hundred day simple moving average is $54.77. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 25.18 and a beta of 0.58.

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

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a dividend of $0.9088 per share. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 7.1%. Sunoco's dividend payout ratio is 179.31%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SUN. Mizuho decreased their price objective on shares of Sunoco from $67.00 to $66.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. upped their price objective 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. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus 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.