Flagship Harbor Advisors LLC Takes Position in Sunoco LP (NYSE:SUN)

Flagship Harbor Advisors LLC bought a new position in Sunoco LP (NYSE:SUN) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,510 shares of the oil and gas company’s stock, valued at approximately $204,000.

A number of other large investors also recently bought and sold shares of SUN. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Sunoco during the fourth quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC boosted its holdings in Sunoco by 17.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 182 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock worth $84,000 after acquiring an additional 788 shares during the last quarter. Transce3nd LLC bought a new position in shares of Sunoco during the fourth quarter valued at $90,000. Finally, Huntington National Bank raised its position in shares of Sunoco by 440.3% in the 4th quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 1,453 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SUN has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, April 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Barclays cut their target price on Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Sunoco currently has an average rating of “Moderate Buy” and a consensus price target of $64.75.

Sunoco Stock Performance

Shares of NYSE SUN opened at $53.27 on Friday. The firm’s 50-day moving average price is $55.28 and its 200-day moving average price is $55.34. Sunoco LP has a 52-week low of $48.00 and a 52-week high of $59.88. The company has a market cap of $8.14 billion, a PE ratio of 9.60 and a beta of 0.62. The company has a quick ratio of 0.86, a current ratio of 1.55 and a debt-to-equity ratio of 1.85.

Sunoco (NYSE:SUN) last issued its earnings results 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 company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Sunoco had a return on equity of 20.34% and a net margin of 3.80%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 EPS. As a group, analysts anticipate that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a $0.8976 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, May 9th. This represents a $3.59 dividend on an annualized basis and a yield of 6.74%. Sunoco’s dividend payout ratio is currently 64.68%.

Sunoco Company 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.