Sunoco LP (NYSE:SUN) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Sunoco LP by 3.9%, owning a total of 184,925 shares valued at approximately $10.7 million as of the end of the reporting period.
• Sunoco recently announced a quarterly dividend of $0.9088 per share, marking an increase from its previous dividend of $0.90, representing a yield of 7.0%.
• Sunoco reported an earnings per share (EPS) of $0.33 for the quarter, significantly below the analyst consensus estimate of $1.68, with revenue also falling short of projections.

LPL Financial LLC raised its holdings in shares of Sunoco LP (NYSE:SUN - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,925 shares of the oil and gas company's stock after purchasing an additional 6,986 shares during the quarter. LPL Financial LLC owned 0.12% of Sunoco worth $10,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC grew its stake in Sunoco by 1.9% in the first quarter. International Assets Investment Management LLC now owns 11,252 shares of the oil and gas company's stock valued at $653,000 after purchasing an additional 208 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Sunoco by 5.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,262 shares of the oil and gas company's stock worth $306,000 after acquiring an additional 279 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Sunoco by 1.7% during the first quarter. Sigma Planning Corp now owns 18,301 shares of the oil and gas company's stock worth $1,063,000 after acquiring an additional 309 shares during the last quarter. United Advisor Group LLC grew its stake in shares of Sunoco by 4.9% during the first quarter. United Advisor Group LLC now owns 7,479 shares of the oil and gas company's stock worth $434,000 after acquiring an additional 351 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of 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 purchasing an additional 419 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Mizuho dropped their price target on Sunoco from $68.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd.

Sunoco Trading Up 0.1%

SUN stock traded up $0.05 during trading on Wednesday, reaching $51.48. 118,312 shares of the stock traded hands, compared to its average volume of 431,355. The business's 50 day moving average price is $53.24 and its 200-day moving average price is $55.50. Sunoco LP has a 52-week low of $48.00 and a 52-week high of $59.88. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.52 and a quick ratio of 0.80. The firm has a market capitalization of $7.86 billion, a PE ratio of 25.36 and a beta of 0.60.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly 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 net margin of 2.02% and a return on equity of 10.57%. The firm had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same period last year, the firm posted $3.85 EPS. Sunoco's revenue was down 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be issued a $0.9088 dividend. This is an increase from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Friday, August 8th. Sunoco's dividend payout ratio (DPR) is currently 179.31%.

About Sunoco

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.