Raymond James & Associates boosted its stake in shares of Sunoco LP (NYSE:SUN) by 30.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,393 shares of the oil and gas company’s stock after buying an additional 17,177 shares during the period. Raymond James & Associates’ holdings in Sunoco were worth $2,287,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in SUN. Creative Planning boosted its position in shares of Sunoco by 9.2% in the fourth quarter. Creative Planning now owns 24,600 shares of the oil and gas company’s stock worth $669,000 after acquiring an additional 2,067 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Sunoco by 53.2% during the fourth quarter. BlackRock Inc. now owns 575,604 shares of the oil and gas company’s stock valued at $15,651,000 after acquiring an additional 200,000 shares during the period. Wellington Shields Capital Management LLC boosted its holdings in shares of Sunoco by 11.1% during the fourth quarter. Wellington Shields Capital Management LLC now owns 30,100 shares of the oil and gas company’s stock valued at $818,000 after acquiring an additional 3,000 shares during the period. Strategic Wealth Advisors Group LLC acquired a new stake in Sunoco in the fourth quarter worth about $358,000. Finally, Citigroup Inc. raised its position in Sunoco by 58.8% in the fourth quarter. Citigroup Inc. now owns 80,537 shares of the oil and gas company’s stock worth $2,190,000 after acquiring an additional 29,836 shares in the last quarter. 28.87% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on SUN shares. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Sunoco in a research note on Thursday, May 9th. TheStreet upgraded Sunoco from a “c+” rating to a “b” rating in a research note on Thursday, May 9th. Zacks Investment Research lowered Sunoco from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Barclays cut Sunoco from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $34.00 to $32.00 in a report on Tuesday, April 16th. Finally, ValuEngine upgraded Sunoco from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $30.13.
Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. Sunoco had a return on equity of 38.68% and a net margin of 1.28%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the company posted ($3.74) EPS. Sunoco’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Sunoco LP will post 2.73 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a dividend of $0.8255 per share. This represents a $3.30 dividend on an annualized basis and a yield of 10.80%. The ex-dividend date was Monday, May 6th. Sunoco’s dividend payout ratio (DPR) is currently 127.91%.
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Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.
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