Allworth Financial LP lessened its holdings in shares of Sunoco LP (NYSE:SUN – Free Report) by 46.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 925 shares of the oil and gas company’s stock after selling 798 shares during the quarter. Allworth Financial LP’s holdings in Sunoco were worth $54,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of SUN. Stratos Wealth Partners LTD. lifted its stake in shares of Sunoco by 7.4% in the first quarter. Stratos Wealth Partners LTD. now owns 9,640 shares of the oil and gas company’s stock worth $560,000 after buying an additional 668 shares in the last quarter. Alpha Cubed Investments LLC acquired a new stake in Sunoco in the 1st quarter valued at about $204,000. U.S. Capital Wealth Advisors LLC purchased a new position in Sunoco in the 1st quarter worth approximately $538,000. Envestnet Asset Management Inc. boosted its holdings in shares of Sunoco by 6.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 32,603 shares of the oil and gas company’s stock worth $1,893,000 after purchasing an additional 1,845 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Sunoco in the first quarter valued at approximately $239,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on SUN shares. Barclays reduced their price objective on Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Mizuho decreased their target price on shares of Sunoco from $68.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, July 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Sunoco currently has an average rating of “Moderate Buy” and a consensus target price of $64.50.
Sunoco Stock Performance
Shares of Sunoco stock opened at $53.32 on Friday. The firm has a market cap of $8.14 billion, a PE ratio of 9.61 and a beta of 0.61. 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 LP has a 52 week low of $48.00 and a 52 week high of $59.88. The business’s fifty day simple moving average is $54.04 and its 200-day simple moving average is $55.50.
Sunoco (NYSE:SUN – Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same period in the previous year, the company earned $2.26 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.
Sunoco Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a dividend of $0.8976 per share. 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 presently 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.
Recommended Stories
- Five stocks we like better than Sunoco
- Compound Interest and Why It Matters When Investing
- Why Pure Storage Is a Core Investment for the AI Era
- What is the FTSE 100 index?
- 2025: A Pivotal Year for Smart Glasses As Meta Invests in Ray-Ban
- What is the MACD Indicator and How to Use it in Your Trading
- Unity’s New Ad Solutions Drive Stock to 52-Week High
Receive News & Ratings for Sunoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco and related companies with MarketBeat.com's FREE daily email newsletter.