Kestra Private Wealth Services LLC Acquires New Holdings in Sunoco LP (NYSE:SUN)

Kestra Private Wealth Services LLC purchased a new position in Sunoco LP (NYSE:SUNGet Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,185 shares of the oil and gas company’s stock, valued at approximately $784,000.

Several other institutional investors have also added to or reduced their stakes in SUN. Captrust Financial Advisors raised its position in Sunoco by 60.3% in the first quarter. Captrust Financial Advisors now owns 2,549 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 959 shares during the period. Cetera Advisor Networks LLC raised its position in Sunoco by 7.1% in the first quarter. Cetera Advisor Networks LLC now owns 5,369 shares of the oil and gas company’s stock worth $219,000 after acquiring an additional 357 shares during the period. Truist Financial Corp raised its position in Sunoco by 15.8% in the first quarter. Truist Financial Corp now owns 5,970 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 814 shares during the period. Evergreen Capital Management LLC bought a new position in Sunoco in the fourth quarter worth approximately $245,000. Finally, Americana Partners LLC bought a new position in Sunoco in the first quarter worth approximately $253,000. 16.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SUN has been the topic of several recent research reports. Mizuho increased their price target on shares of Sunoco from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Monday, September 12th. Barclays reduced their price objective on shares of Sunoco from $47.00 to $44.00 in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company cut shares of Sunoco from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $46.00 to $41.00 in a research note on Tuesday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sunoco presently has an average rating of “Hold” and an average price target of $45.00.

Sunoco Stock Performance

SUN opened at $39.97 on Friday. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 7.31 and a beta of 1.48. The company has a fifty day moving average of $39.71 and a 200 day moving average of $40.29. Sunoco LP has a fifty-two week low of $34.26 and a fifty-two week high of $46.95. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.95 and a current ratio of 1.45.

Sunoco (NYSE:SUNGet Rating) last posted its earnings results on Wednesday, August 3rd. The oil and gas company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $7.82 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Sunoco had a net margin of 2.36% and a return on equity of 61.22%. Sunoco’s quarterly revenue was up 77.9% on a year-over-year basis. During the same period last year, the company posted $1.73 earnings per share. As a group, sell-side analysts forecast that Sunoco LP will post 6.44 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were paid a dividend of $0.8255 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $3.30 annualized dividend and a yield of 8.26%. Sunoco’s payout ratio is 60.33%.

Sunoco Company Profile

(Get Rating)

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and 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.

Read More

Want to see what other hedge funds are holding SUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunoco LP (NYSE:SUNGet Rating).

Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

Receive News & Ratings for Sunoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco and related companies with MarketBeat.com's FREE daily email newsletter.