Raymond James Financial Inc. Has $20.15 Million Stock Holdings in Sunoco LP $SUN

Raymond James Financial Inc. raised its holdings in Sunoco LP (NYSE:SUN) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 346,963 shares of the oil and gas company’s stock after acquiring an additional 2,124 shares during the quarter. Raymond James Financial Inc. owned about 0.23% of Sunoco worth $20,145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SUN. Alps Advisors Inc. lifted its stake in shares of Sunoco by 12.3% in the first quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company’s stock worth $1,343,080,000 after buying an additional 2,529,170 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Sunoco by 3.3% in the first quarter. Invesco Ltd. now owns 9,165,717 shares of the oil and gas company’s stock worth $532,162,000 after buying an additional 296,791 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Sunoco by 29.4% in the first quarter. Neuberger Berman Group LLC now owns 644,512 shares of the oil and gas company’s stock worth $37,420,000 after buying an additional 146,621 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sunoco by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company’s stock worth $134,192,000 after buying an additional 128,042 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Sunoco by 59.5% in the first quarter. Allianz Asset Management GmbH now owns 304,500 shares of the oil and gas company’s stock worth $17,679,000 after buying an additional 113,600 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of Sunoco from $68.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on shares of Sunoco from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $64.75.

Sunoco Trading Down 0.1%

Shares of SUN stock opened at $51.75 on Wednesday. Sunoco LP has a 1 year low of $48.00 and a 1 year high of $59.88. The firm’s fifty day simple moving average is $53.02 and its 200 day simple moving average is $55.15. The firm has a market capitalization of $7.92 billion, a P/E ratio of 25.49 and a beta of 0.60. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.35). Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the firm posted $3.85 EPS. The company’s revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a dividend of $0.9088 per share. This represents a $3.64 dividend on an annualized basis and a yield of 7.0%. This is an increase from Sunoco’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, August 8th. Sunoco’s payout ratio is presently 178.82%.

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.