Stifel Financial Corp Grows Position in Sunoco LP (NYSE:SUN)

Stifel Financial Corp increased its position in Sunoco LP (NYSE:SUN) by 154.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,330 shares of the oil and gas company’s stock after buying an additional 39,079 shares during the quarter. Stifel Financial Corp’s holdings in Sunoco were worth $3,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SUN. Independence Bank of Kentucky purchased a new position in shares of Sunoco during the fourth quarter valued at approximately $53,000. Steward Partners Investment Advisory LLC increased its position in Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 182 shares during the period. Global Retirement Partners LLC raised its holdings in Sunoco by 93.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 788 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Sunoco in the 4th quarter worth about $90,000. Finally, Huntington National Bank lifted its position in shares of Sunoco by 440.3% in the 4th quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 1,453 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SUN. JPMorgan Chase & Co. increased their target price on Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Barclays lowered their price objective on Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Mizuho upped their target price on shares of Sunoco from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Sunoco currently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Sunoco Price Performance

NYSE:SUN opened at $57.92 on Friday. The business’s 50-day moving average is $56.96 and its 200 day moving average is $54.98. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88. The company has a market capitalization of $8.84 billion, a P/E ratio of 8.78 and a beta of 1.06. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. On average, equities research analysts forecast that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company 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 $0.8976 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.59 annualized dividend and a yield of 6.20%. This is an increase from Sunoco’s previous quarterly dividend of $0.89. Sunoco’s dividend payout ratio (DPR) is presently 54.39%.

Sunoco 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.