MidFirst Bank acquired a new stake in shares of Sunoco LP (NYSE:SUN – Free Report) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 30,500 shares of the oil and gas company’s stock, valued at approximately $1,599,000.
Several other hedge funds have also recently made changes to their positions in the company. Ancora Advisors LLC purchased a new position in shares of Sunoco during the 3rd quarter valued at $40,000. Glen Eagle Advisors LLC increased its holdings in Sunoco by 496.5% in the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 710 shares during the last quarter. Cresta Advisors Ltd. bought a new stake in Sunoco in the 4th quarter valued at about $64,000. Russell Investments Group Ltd. lifted its holdings in Sunoco by 110.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 823 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Sunoco during the fourth quarter worth about $95,000. 24.29% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Wells Fargo & Company lifted their price objective on shares of Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Mizuho upped their price target on shares of Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings raised shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Sunoco has a consensus rating of “Buy” and an average target price of $74.12.
Sunoco Stock Down 0.4%
NYSE SUN opened at $63.27 on Friday. The stock has a market capitalization of $12.96 billion, a PE ratio of 16.18 and a beta of 0.43. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $72.88. The business’s 50-day moving average is $66.73 and its 200 day moving average is $61.70. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92.
Sunoco (NYSE:SUN – Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm’s revenue for the quarter was up 106.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. Sell-side analysts forecast that Sunoco LP will post 7.92 earnings per share for the current year.
Sunoco Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $0.9899 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. The ex-dividend date was Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 6.3%. Sunoco’s dividend payout ratio (DPR) is currently 101.28%.
Sunoco Profile
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.
Read More
- Five stocks we like better than Sunoco
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Want to see what other hedge funds are holding SUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunoco LP (NYSE:SUN – Free Report).
Receive News & Ratings for Sunoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco and related companies with MarketBeat.com's FREE daily email newsletter.
