Sanctuary Advisors LLC lifted its stake in shares of Sunoco LP (NYSE:SUN – Free Report) by 19.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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’s holdings in Sunoco were worth $10,052,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Midwest Trust Co raised its holdings in Sunoco by 11.7% during the 1st quarter. Midwest Trust Co now owns 8,482 shares of the oil and gas company’s stock worth $551,000 after buying an additional 887 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of Sunoco by 250.4% in the first quarter. Kestra Advisory Services LLC now owns 62,358 shares of the oil and gas company’s stock worth $4,051,000 after buying an additional 44,563 shares during the period. Dividend Assets Capital LLC increased its position in shares of Sunoco by 3.1% in the first quarter. Dividend Assets Capital LLC now owns 21,412 shares of the oil and gas company’s stock worth $1,391,000 after acquiring an additional 649 shares in the last quarter. Oxbow Advisors LLC increased its position in shares of Sunoco by 4.5% in the first quarter. Oxbow Advisors LLC now owns 11,075 shares of the oil and gas company’s stock worth $720,000 after acquiring an additional 480 shares in the last quarter. Finally, World Investment Advisors raised its holdings in shares of Sunoco by 12.1% during the first quarter. World Investment Advisors now owns 9,600 shares of the oil and gas company’s stock valued at $624,000 after acquiring an additional 1,037 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.
Sunoco Trading Up 2.7%
Shares of SUN stock opened at $74.05 on Friday. Sunoco LP has a 12 month low of $47.98 and a 12 month high of $74.29. The company has a market cap of $15.17 billion, a PE 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. The business’s 50 day moving average is $67.60 and its two-hundred day moving average is $63.78.
Sunoco Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.9899 dividend. This is a boost from Sunoco’s previous quarterly dividend of $0.93. The ex-dividend date was Friday, May 8th. This represents a $3.96 annualized dividend and a yield of 5.3%. Sunoco’s payout ratio is 101.28%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on SUN shares. Weiss Ratings upgraded shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Wall Street Zen raised Sunoco from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research upgraded shares of Sunoco from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 1st. Wells Fargo & Company increased their target price on shares of Sunoco from $71.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Barclays raised their target price on Sunoco from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $74.75.
Check Out Our Latest Research Report on Sunoco
Sunoco Company 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.
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