Sunoco LP $SUN Shares Sold by First Trust Advisors LP

by · The Markets Daily

First Trust Advisors LP lessened its holdings in shares of Sunoco LP (NYSE:SUN – Free Report) by 28.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,503 shares of the oil and gas company’s stock after selling 15,915 shares during the period. First Trust Advisors LP’s holdings in Sunoco were worth $2,631,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Diversified Trust Co boosted its holdings in Sunoco by 3.0% in the first quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company’s stock valued at $379,000 after purchasing an additional 168 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Sunoco by 2.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after buying an additional 205 shares during the last quarter. IHT Wealth Management LLC raised its stake in shares of Sunoco by 2.1% during the 2nd quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock valued at $552,000 after buying an additional 212 shares during the last quarter. Glenmede Investment Management LP lifted its holdings in shares of Sunoco by 0.7% in the 3rd quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company’s stock valued at $1,955,000 after buying an additional 288 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Sunoco by 3.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 8,886 shares of the oil and gas company’s stock valued at $476,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SUN. Royal Bank Of Canada raised their target price on Sunoco to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Mizuho set a $83.00 price objective on Sunoco in a research report on Friday, July 24th. Citigroup raised their price objective on shares of Sunoco from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $80.00 target price on shares of Sunoco in a report on Wednesday, May 6th. Finally, Barclays boosted their target price on shares of Sunoco from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $79.00.

Check Out Our Latest Report on SUN

Sunoco Price Performance

Shares of Sunoco stock opened at $70.58 on Friday. The firm has a market cap of $14.46 billion, a PE ratio of 15.62 and a beta of 0.41. Sunoco LP has a twelve month low of $47.98 and a twelve month high of $78.11. 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 has a 50-day moving average price of $69.31 and a 200 day moving average price of $65.89.

Sunoco (NYSE:SUN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). Sunoco had a return on equity of 19.62% and a net margin of 2.88%.The business had revenue of $14.26 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 164.5% compared to the same quarter last year. Sell-side analysts predict that Sunoco LP will post 11.09 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a dividend of $1.0023 per share. This represents a $4.01 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Sunoco’s previous quarterly dividend of $0.99. Sunoco’s dividend payout ratio is currently 87.61%.

About Sunoco

(Free Report)

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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