Kestra Private Wealth Services LLC bought a new position in Sunoco LP (NYSE:SUN – Get Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,185 shares of the oil and gas company’s stock, valued at approximately $784,000.
Other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Sunoco by 2.9% in the first quarter. Bank of Montreal Can now owns 325,300 shares of the oil and gas company’s stock worth $13,572,000 after buying an additional 9,100 shares during the period. Brookstone Capital Management increased its stake in shares of Sunoco by 4.0% in the first quarter. Brookstone Capital Management now owns 13,175 shares of the oil and gas company’s stock worth $551,000 after buying an additional 512 shares during the period. McDonald Partners LLC purchased a new position in shares of Sunoco in the first quarter worth $613,000. Bank of America Corp DE increased its position in Sunoco by 31.3% during the 4th quarter. Bank of America Corp DE now owns 315,476 shares of the oil and gas company’s stock valued at $12,881,000 after purchasing an additional 75,241 shares during the period. Finally, IPG Investment Advisors LLC bought a new position in Sunoco in the 4th quarter worth $261,000. 16.82% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Monday, September 12th. Wells Fargo & Company cut shares of Sunoco from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $46.00 to $41.00 in a research report on Tuesday, May 31st. Barclays reduced their price target on shares of Sunoco from $47.00 to $44.00 in a research report on Wednesday, July 20th. Finally, Mizuho boosted their price target on shares of Sunoco from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Sunoco has a consensus rating of “Hold” and an average target price of $45.00.
Sunoco Price Performance
Sunoco (NYSE:SUN – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The oil and gas company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $7.82 billion for 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%. The business’s revenue was up 77.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. Analysts anticipate that Sunoco LP will post 6.44 earnings per share for the current fiscal year.
Sunoco Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were issued a $0.8255 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date of this dividend was Friday, August 5th. Sunoco’s dividend payout ratio (DPR) is presently 60.33%.
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.
- Get a free copy of the StockNews.com research report on Sunoco (SUN)
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