Caprock Group LLC Purchases New Position in Sunoco LP $SUN

Caprock Group LLC bought a new position in Sunoco LP (NYSE:SUN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,530 shares of the oil and gas company’s stock, valued at approximately $1,126,000.

Other hedge funds have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. bought a new position in Sunoco in the 3rd quarter worth approximately $31,000. Bessemer Group Inc. increased its stake in shares of Sunoco by 41.7% in the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 400 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Sunoco by 95.9% during the second quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock worth $74,000 after acquiring an additional 675 shares during the last quarter. State of Wyoming acquired a new position in shares of Sunoco during the second quarter valued at $111,000. Finally, Pinnacle Financial Partners Inc bought a new position in Sunoco in the third quarter valued at about $200,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SUN. Raymond James Financial raised Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective for the company in a report on Monday, January 5th. Zacks Research cut shares of Sunoco from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings raised shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Barclays set a $60.00 price objective on shares of Sunoco and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Wall Street Zen lowered shares of Sunoco from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $65.60.

Sunoco Trading Up 1.0%

Shares of NYSE:SUN opened at $59.50 on Monday. The company’s 50-day moving average price is $55.56 and its two-hundred day moving average price is $53.36. Sunoco LP has a one year low of $47.98 and a one year high of $60.62. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50. The stock has a market capitalization of $12.17 billion, a PE ratio of 20.31 and a beta of 0.51.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.9317 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, February 6th. This represents a $3.73 dividend on an annualized basis and a yield of 6.3%. Sunoco’s dividend payout ratio is 127.30%.

Sunoco Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.