Goldman Sachs Group Inc. Buys 275,875 Shares of Sunoco LP (NYSE:SUN)

Goldman Sachs Group Inc. raised its stake in Sunoco LP (NYSE:SUNFree Report) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,904,735 shares of the oil and gas company’s stock after buying an additional 275,875 shares during the quarter. Goldman Sachs Group Inc. owned about 2.89% of Sunoco worth $174,081,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SUN. Principal Securities Inc. bought a new position in Sunoco in the fourth quarter valued at approximately $27,000. Allworth Financial LP lifted its position in shares of Sunoco by 250.0% in the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 500 shares in the last quarter. Retirement Solution Inc. bought a new stake in shares of Sunoco in the fourth quarter worth $200,000. CWA Asset Management Group LLC bought a new stake in shares of Sunoco in the third quarter worth $201,000. Finally, Alpha Cubed Investments LLC bought a new stake in shares of Sunoco in the fourth quarter worth $207,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

NYSE SUN opened at $53.54 on Friday. Sunoco LP has a 1 year low of $43.00 and a 1 year high of $64.89. The firm has a market capitalization of $5.40 billion, a P/E ratio of 11.92 and a beta of 1.29. The firm’s fifty day moving average price is $54.51 and its two-hundred day moving average price is $57.43. The company has a current ratio of 1.65, a quick ratio of 1.07 and a debt-to-equity ratio of 3.39.

Sunoco (NYSE:SUNGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. Sunoco had a net margin of 2.08% and a return on equity of 35.56%. The firm had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.13 billion. As a group, research analysts anticipate that Sunoco LP will post 6.03 EPS for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a $0.876 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.84. This represents a $3.50 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend was Friday, May 10th. Sunoco’s payout ratio is currently 77.95%.

Insider Buying and Selling at Sunoco

In related news, EVP Brian A. Hand acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $49.59 per share, for a total transaction of $99,180.00. Following the completion of the acquisition, the executive vice president now directly owns 153,255 shares in the company, valued at $7,599,915.45. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Sunoco news, Director David K. Skidmore purchased 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average cost of $52.10 per share, for a total transaction of $78,150.00. Following the completion of the purchase, the director now owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian A. Hand purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $49.59 per share, for a total transaction of $99,180.00. Following the completion of the purchase, the executive vice president now directly owns 153,255 shares of the company’s stock, valued at approximately $7,599,915.45. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,500 shares of company stock worth $479,570 over the last ninety days.

Wall Street Analyst Weigh In

SUN has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on shares of Sunoco from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. initiated coverage on shares of Sunoco in a research report on Wednesday. They issued an “overweight” rating and a $61.00 price objective on the stock. StockNews.com raised shares of Sunoco from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Citigroup lowered shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research report on Tuesday, February 27th. Finally, Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $60.00 to $59.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.43.

Read Our Latest Report on Sunoco

Sunoco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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