Raymond James & Associates Grows Position in Sunoco LP (NYSE:SUN)

Raymond James & Associates lifted its stake in shares of Sunoco LP (NYSE:SUNGet Rating) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,908 shares of the oil and gas company’s stock after buying an additional 1,928 shares during the period. Raymond James & Associates’ holdings in Sunoco were worth $3,387,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its position in Sunoco by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,939 shares of the oil and gas company’s stock worth $569,000 after acquiring an additional 1,140 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Sunoco by 70.2% during the first quarter. HighTower Advisors LLC now owns 23,016 shares of the oil and gas company’s stock worth $941,000 after purchasing an additional 9,491 shares during the period. Cetera Advisor Networks LLC boosted 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 valued at $219,000 after buying an additional 357 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Sunoco by 5.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,640 shares of the oil and gas company’s stock worth $1,048,000 after buying an additional 1,300 shares during the period. Finally, International Assets Investment Management LLC raised its position in Sunoco by 1.7% during the 1st quarter. International Assets Investment Management LLC now owns 15,519 shares of the oil and gas company’s stock worth $634,000 after buying an additional 266 shares during the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Performance

NYSE SUN opened at $45.10 on Friday. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 8.64 and a beta of 1.37. The stock has a 50-day moving average of $43.33 and a 200 day moving average of $41.13. The company has a current ratio of 1.41, a quick ratio of 0.82 and a debt-to-equity ratio of 3.45. Sunoco LP has a twelve month low of $34.26 and a twelve month high of $46.95.

Sunoco (NYSE:SUNGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The oil and gas company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.39). Sunoco had a net margin of 2.10% and a return on equity of 56.02%. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Sell-side analysts anticipate that Sunoco LP will post 5.39 EPS for the current fiscal year.

Sunoco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 4th were paid a dividend of $0.8255 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $3.30 annualized dividend and a yield of 7.32%. Sunoco’s dividend payout ratio (DPR) is presently 63.22%.

Wall Street Analysts Forecast Growth

SUN has been the topic of several recent research reports. Barclays upped their price objective on shares of Sunoco from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company upgraded Sunoco from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $43.00 to $47.00 in a research note on Friday, December 16th. Citigroup started coverage on Sunoco in a research note on Thursday, December 8th. They issued a “neutral” rating and a $44.00 target price on the stock. StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a research report on Friday, January 13th. Finally, Mizuho boosted their price target on Sunoco from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.71.

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.

See Also

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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