Sunoco LP (NYSE:SUN) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in Sunoco LP (NYSE:SUN) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,238 shares of the oil and gas company’s stock after purchasing an additional 1,356 shares during the period. Apollon Wealth Management LLC’s holdings in Sunoco were worth $2,411,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in Sunoco by 25.0% in the third quarter. Commonwealth Equity Services LLC now owns 31,697 shares of the oil and gas company’s stock worth $1,552,000 after purchasing an additional 6,338 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Sunoco by 2.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 22,129 shares of the oil and gas company’s stock valued at $1,083,000 after acquiring an additional 520 shares in the last quarter. Raymond James & Associates lifted its stake in Sunoco by 1.0% during the third quarter. Raymond James & Associates now owns 71,705 shares of the oil and gas company’s stock worth $3,510,000 after purchasing an additional 721 shares during the last quarter. ING Groep NV raised its position in shares of Sunoco by 138.3% during the 3rd quarter. ING Groep NV now owns 172,300 shares of the oil and gas company’s stock worth $8,434,000 after purchasing an additional 100,000 shares during the period. Finally, WealthPlan Investment Management LLC acquired a new position in Sunoco during the 3rd quarter valued at about $368,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Citigroup lowered shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Tuesday, February 27th. Wells Fargo & Company raised their price target on shares of Sunoco from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 20th. Mizuho increased their target price on shares of Sunoco from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, Barclays raised their price target on Sunoco from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.71.

Insiders Place Their Bets

In related news, Director David K. Skidmore purchased 1,500 shares of Sunoco stock in a transaction on Wednesday, April 17th. The shares were purchased at an average price of $52.10 per share, for a total transaction of $78,150.00. Following the transaction, the director now owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sunoco Stock Up 0.8 %

Shares of NYSE SUN traded up $0.46 during midday trading on Tuesday, reaching $55.70. The company’s stock had a trading volume of 596,332 shares, compared to its average volume of 510,828. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 15.30 and a beta of 1.29. Sunoco LP has a fifty-two week low of $41.95 and a fifty-two week high of $64.89. The stock has a 50 day simple moving average of $58.77 and a 200-day simple moving average of $57.47. The company has a current ratio of 1.40, a quick ratio of 0.76 and a debt-to-equity ratio of 3.66.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. Equities research analysts predict that Sunoco LP will post 5.07 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a $0.876 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.50 dividend on an annualized basis and a yield of 6.29%. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s dividend payout ratio (DPR) is currently 92.58%.

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.