Sanctuary Advisors LLC Raises Stock Holdings in Sunoco LP $SUN

Key Points

• Sanctuary Advisors LLC increased its Sunoco LP stake by 19.6% in the first quarter, buying 25,403 additional shares and bringing its position to 154,713 shares worth about $10.05 million.
• Several analysts turned more positive on SUN, with Citigroup, Mizuho, and JPMorgan all raising price targets; MarketBeat says the stock now has a consensus Buy rating and a $74.75 target price.
• Sunoco reported strong quarterly results, posting EPS of $2.85 versus the $1.71 estimate and revenue of $10.69 billion, while also raising its quarterly dividend to $0.9899 per share, implying a 5.3% yield.

Sanctuary Advisors LLC raised its holdings in Sunoco LP (NYSE:SUN - Free Report) by 19.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,713 shares of the oil and gas company's stock after purchasing an additional 25,403 shares during the period. Sanctuary Advisors LLC owned about 0.08% of Sunoco worth $10,052,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Diversified Trust Co boosted its holdings in Sunoco by 3.0% in the first quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company's stock worth $379,000 after purchasing an additional 168 shares during the period. Kingsview Wealth Management LLC raised its holdings in shares of Sunoco by 2.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company's stock worth $509,000 after purchasing an additional 205 shares during the period. IHT Wealth Management LLC raised its holdings in shares of Sunoco by 2.1% during the second quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company's stock worth $552,000 after purchasing an additional 212 shares during the period. Glenmede Investment Management LP lifted its position in shares of Sunoco by 0.7% in the 3rd quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company's stock worth $1,955,000 after buying an additional 288 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Sunoco by 3.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 8,886 shares of the oil and gas company's stock valued at $476,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 24.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SUN. Citigroup boosted their price objective on shares of Sunoco from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Weiss Ratings upgraded Sunoco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, May 21st. Mizuho increased their price target on Sunoco from $66.00 to $75.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price target on Sunoco from $66.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, March 24th. Finally, Zacks Research upgraded Sunoco from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $74.75.

Sunoco Trading Up 2.7%

Shares of Sunoco stock opened at $74.05 on Friday. The business has a fifty day simple moving average of $67.60 and a 200-day simple moving average of $63.78. Sunoco LP has a fifty-two week low of $47.98 and a fifty-two week high of $74.29. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 18.94 and a beta of 0.42. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03.

Sunoco (NYSE:SUN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.71 by $1.14. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The firm had revenue of $10.69 billion for the quarter, compared to analysts' expectations of $10.19 billion. During the same period in the previous year, the business earned $1.21 earnings per share. Sunoco's revenue for the quarter was up 106.4% compared to the same quarter last year. On average, equities analysts forecast that Sunoco LP will post 7.92 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $0.9899 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.96 annualized dividend and a dividend yield of 5.3%. This is an increase from Sunoco's previous quarterly dividend of $0.93. Sunoco's dividend payout ratio is presently 101.28%.

About Sunoco

Sunoco LP NYSE: SUN is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco's product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.

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