Janney Montgomery Scott LLC Buys 2,639 Shares of Sunoco LP $SUN

Janney Montgomery Scott LLC lifted its stake in Sunoco LP (NYSE:SUN) by 18.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,086 shares of the oil and gas company’s stock after acquiring an additional 2,639 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sunoco were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SUN. Northwestern Mutual Wealth Management Co. grew its stake in shares of Sunoco by 110.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 1,069 shares during the period. IFP Advisors Inc grew its stake in shares of Sunoco by 17.1% in the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company’s stock worth $166,000 after acquiring an additional 419 shares during the period. McIlrath & Eck LLC bought a new stake in Sunoco during the first quarter valued at approximately $199,000. Retirement Income Solutions Inc bought a new stake in Sunoco during the first quarter valued at approximately $203,000. Finally, Flagship Harbor Advisors LLC bought a new stake in Sunoco during the first quarter valued at approximately $204,000. 24.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SUN has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Sunoco in a research report on Wednesday, October 8th. Mizuho cut their target price on shares of Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Zacks Research upgraded shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sunoco from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Sunoco presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.50.

Sunoco Price Performance

Shares of NYSE:SUN opened at $50.70 on Wednesday. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $59.88. The firm’s 50 day simple moving average is $50.94 and its two-hundred day simple moving average is $53.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.52 and a quick ratio of 0.80. The company has a market capitalization of $7.76 billion, a P/E ratio of 24.98 and a beta of 0.53.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($1.35). The company had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.42 billion. Sunoco had a net margin of 2.02% and a return on equity of 10.57%. The business’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 earnings per share. Research analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal 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 paid a dividend of $0.9088 per share. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 7.2%. Sunoco’s dividend payout ratio is 178.82%.

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.