BB&T Securities LLC lifted its stake in Sunoco LP (NYSE:SUN) by 7.3% during the third quarter, Holdings Channel.com reports. The fund owned 11,750 shares of the oil and gas company’s stock after buying an additional 800 shares during the period. BB&T Securities LLC’s holdings in Sunoco were worth $370,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Adams Asset Advisors LLC grew its stake in Sunoco by 0.7% during the 2nd quarter. Adams Asset Advisors LLC now owns 235,096 shares of the oil and gas company’s stock worth $7,353,000 after buying an additional 1,705 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Sunoco by 15.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 9,141 shares of the oil and gas company’s stock worth $285,000 after buying an additional 1,204 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Sunoco during the 2nd quarter worth $41,000. SG Americas Securities LLC bought a new position in Sunoco during the 2nd quarter worth $727,000. Finally, Janney Montgomery Scott LLC bought a new position in Sunoco during the 2nd quarter worth $203,000. 28.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of SUN stock opened at $31.79 on Thursday. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.78 and a current ratio of 1.24. Sunoco LP has a 1 year low of $23.80 and a 1 year high of $34.09. The stock has a fifty day moving average of $32.05 and a two-hundred day moving average of $31.53. The firm has a market capitalization of $3.10 billion, a PE ratio of 12.32 and a beta of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.8255 per share. The ex-dividend date is Monday, November 4th. This represents a $3.30 dividend on an annualized basis and a yield of 10.39%. Sunoco’s dividend payout ratio (DPR) is presently 127.91%.
In other Sunoco news, insider Machell Simon purchased 6,305 shares of Sunoco stock in a transaction on Thursday, October 31st. The stock was bought at an average price of $13.45 per share, for a total transaction of $84,802.25.
SUN has been the subject of a number of recent research reports. BMO Capital Markets upgraded Sunoco from an “underperform” rating to a “market perform” rating in a research note on Friday, October 18th. Barclays set a $33.00 price objective on Sunoco and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Mizuho initiated coverage on Sunoco in a research note on Monday, October 28th. They set a “buy” rating and a $36.00 price objective for the company. ValuEngine downgraded Sunoco from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus set a $34.00 price objective on Sunoco and gave the stock a “hold” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Sunoco has an average rating of “Hold” and a consensus price target of $31.78.
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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