MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 128,042 Shares of Sunoco LP (NYSE:SUN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sunoco LP (NYSE:SUN - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,608,701 shares of the oil and gas company's stock after purchasing an additional 128,042 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.71% of Sunoco worth $134,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Wealth Solutions Inc. bought a new position in Sunoco in the fourth quarter worth approximately $256,000. Virtu Financial LLC bought a new position in Sunoco in the fourth quarter worth approximately $239,000. Icon Advisers Inc. Co. bought a new stake in Sunoco during the fourth quarter valued at about $1,852,000. Van ECK Associates Corp boosted its position in Sunoco by 41.1% during the fourth quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company's stock valued at $1,550,000 after purchasing an additional 8,782 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Sunoco during the fourth quarter valued at about $17,739,000. 24.29% of the stock is currently owned by institutional investors.

Sunoco Trading Down 2.0%

NYSE:SUN opened at $55.38 on Monday. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88. The firm has a fifty day simple moving average of $56.65 and a 200-day simple moving average of $55.14. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $8.45 billion, a P/E ratio of 8.39 and a beta of 0.67.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.48). The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.58 billion. Sunoco had a net margin of 3.85% and a return on equity of 22.52%. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.26 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.8976 per share. This represents a $3.59 annualized dividend and a yield of 6.48%. This is a boost from Sunoco's previous quarterly dividend of $0.89. The ex-dividend date is Friday, May 9th. Sunoco's payout ratio is presently 64.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SUN. Barclays dropped their price objective on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Mizuho boosted their price objective on shares of Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Sunoco has an average rating of "Moderate Buy" and an average price target of $64.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.