Redwood Wealth Management Group LLC Makes New $46,000 Investment in Sunoco LP (NYSE:SUN)

Redwood Wealth Management Group LLC acquired a new stake in shares of Sunoco LP (NYSE:SUN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 810 shares of the oil and gas company’s stock, valued at approximately $46,000.

Other institutional investors have also bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of Sunoco during the 4th quarter worth about $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Sunoco during the fourth quarter valued at approximately $30,000. CNB Bank bought a new stake in Sunoco during the first quarter worth approximately $30,000. Longfellow Investment Management Co. LLC bought a new position in Sunoco during the 2nd quarter valued at $32,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of Sunoco during the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Up 0.4 %

Shares of NYSE:SUN opened at $53.50 on Monday. The firm has a 50 day simple moving average of $54.22 and a 200 day simple moving average of $55.57. Sunoco LP has a 52 week low of $45.30 and a 52 week high of $64.89. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.72 and a current ratio of 1.26. The company has a market cap of $8.15 billion, a PE ratio of 11.92 and a beta of 1.30.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $2.62. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the previous year, the business earned $0.78 EPS. The company’s revenue was up 7.5% on a year-over-year basis. As a group, research analysts expect that Sunoco LP will post 8.09 earnings per share for the current year.

Sunoco Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.50 dividend on an annualized basis and a yield of 6.55%. Sunoco’s payout ratio is presently 77.95%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Stifel Nicolaus upgraded Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Friday, June 7th. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Barclays cut their target price on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Citigroup upgraded Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Sunoco currently has an average rating of “Moderate Buy” and a consensus price target of $62.14.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.