NBW Capital LLC Makes New Investment in Sunoco LP (NYSE:SUN)

Key Points

• NBW Capital LLC has acquired 74,578 shares of Sunoco LP, valued at approximately $4.33 million, according to a recent Form 13F filing with the SEC.
• Sunoco LP announced a quarterly dividend increase to $0.9088 per share, representing an annual yield of 6.9%, with a payout ratio of 178.82%.
• The company reported a net revenue decline of 12.7% year-over-year, earning $0.33 per share, significantly below analysts' estimates of $1.68 per share.

NBW Capital LLC purchased a new position in shares of Sunoco LP (NYSE:SUN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 74,578 shares of the oil and gas company's stock, valued at approximately $4,330,000.

Other large investors also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Sunoco in the 4th quarter valued at $31,000. Transce3nd LLC acquired a new position in shares of Sunoco in the 4th quarter valued at $90,000. State of Wyoming acquired a new position in shares of Sunoco in the 4th quarter valued at $102,000. IFP Advisors Inc lifted its stake in shares of Sunoco by 17.1% in the 1st quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company's stock valued at $166,000 after purchasing an additional 419 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new position in shares of Sunoco in the 4th quarter valued at $200,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SUN shares. JPMorgan Chase & Co. increased their target price on Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Mizuho dropped their target price on Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, July 14th.

Sunoco Price Performance

SUN traded up $0.46 during trading on Tuesday, reaching $51.06. 304,431 shares of the stock were exchanged, compared to its average volume of 432,271. The business's 50 day moving average price is $53.30 and its two-hundred day moving average price is $55.53. 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 company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 25.20 and a beta of 0.60. Sunoco LP has a 1 year low of $48.00 and a 1 year high of $59.88.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings results 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 return on equity of 10.57% and a net margin of 2.02%. The company had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the firm earned $3.85 earnings per share. The business's revenue was down 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

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

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.