Sunoco LP (NYSE:SUN) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Sunoco LP (NYSE:SUN) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,983 shares of the oil and gas company’s stock after purchasing an additional 592 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Sunoco were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SUN. ING Groep NV lifted its stake in shares of Sunoco by 223.7% in the 4th quarter. ING Groep NV now owns 513,715 shares of the oil and gas company’s stock valued at $26,426,000 after purchasing an additional 355,000 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Sunoco during the 4th quarter worth about $17,739,000. CIBC Private Wealth Group LLC lifted its stake in Sunoco by 32,166.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company’s stock worth $12,137,000 after acquiring an additional 230,634 shares in the last quarter. Invesco Ltd. lifted its stake in Sunoco by 2.3% during the 4th quarter. Invesco Ltd. now owns 8,868,926 shares of the oil and gas company’s stock worth $456,218,000 after acquiring an additional 198,859 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Sunoco by 63.5% during the 4th quarter. Neuberger Berman Group LLC now owns 497,891 shares of the oil and gas company’s stock worth $25,611,000 after acquiring an additional 193,278 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SUN. JPMorgan Chase & Co. increased their price objective on Sunoco from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Mizuho increased their price objective on Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. Finally, Barclays dropped their price objective on Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunoco presently has an average rating of “Moderate Buy” and a consensus price target of $64.80.

Sunoco Price Performance

Sunoco stock opened at $53.32 on Monday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The business has a 50 day simple moving average of $55.49 and a 200-day simple moving average of $55.51. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88. The stock has a market capitalization of $8.14 billion, a PE ratio of 8.08 and a beta of 0.62.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.48). The business had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Sunoco had a return on equity of 22.52% and a net margin of 3.85%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. Equities analysts predict that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.8976 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 6.73%. This is a boost from Sunoco’s previous quarterly dividend of $0.89. Sunoco’s dividend payout ratio (DPR) is currently 64.68%.

Sunoco Profile

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.