Sunoco LP $SUN Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sunoco LP by 14.2%, acquiring a total of about 2.98 million shares worth approximately $172.9 million.
• Analysts currently have a consensus rating of "Buy" on Sunoco shares, with an average price target of $64.50.
• Sunoco recently declared a quarterly dividend of $0.9088 per share, representing an annualized yield of 7.1% and reflecting a slight increase from the previous dividend.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sunoco LP (NYSE:SUN - Free Report) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,978,209 shares of the oil and gas company's stock after purchasing an additional 369,508 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.95% of Sunoco worth $172,915,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position 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 buying an additional 279 shares in the last quarter. Ethos Financial Group LLC bought a new stake in shares of Sunoco in the 1st quarter worth about $452,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Sunoco by 4.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,232 shares of the oil and gas company's stock worth $1,465,000 after purchasing an additional 1,144 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Sunoco by 7.3% during the first quarter. Oppenheimer & Co. Inc. now owns 7,365 shares of the oil and gas company's stock worth $428,000 after purchasing an additional 500 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in Sunoco in the first quarter worth about $239,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Stock Performance

Sunoco stock traded down $0.04 during midday trading on Tuesday, reaching $51.10. 217,993 shares of the stock traded hands, compared to its average volume of 423,939. The firm has a fifty day moving average price of $52.75 and a two-hundred day moving average price of $54.77. Sunoco LP has a fifty-two week low of $48.00 and a fifty-two week high of $59.88. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 25.17 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 (NYSE:SUN - Get Free Report) last announced 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). The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The company's revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.85 EPS. On average, equities research analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company 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. This is a boost from Sunoco's previous quarterly dividend of $0.90. The ex-dividend date was Friday, August 8th. This represents a $3.64 annualized dividend and a dividend yield of 7.1%. Sunoco's payout ratio is 179.31%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Mizuho lowered 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. Four 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 target price 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.