McIlrath & Eck LLC purchased a new stake in shares of Sunoco LP (NYSE:SUN) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,000 shares of the oil and gas company’s stock, valued at approximately $31,000.
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Several other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. bought a new stake in Sunoco in the second quarter valued at approximately $488,430,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Sunoco during the third quarter valued at approximately $1,572,000. GSA Capital Partners LLP purchased a new position in shares of Sunoco during the second quarter valued at approximately $213,000. BB&T Securities LLC increased its stake in shares of Sunoco by 7.3% during the third quarter. BB&T Securities LLC now owns 11,750 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 800 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Sunoco by 2.3% during the second quarter. Van ECK Associates Corp now owns 112,154 shares of the oil and gas company’s stock valued at $3,508,000 after buying an additional 2,494 shares during the period. Hedge funds and other institutional investors own 28.70% of the company’s stock.
SUN stock traded up $0.61 during trading on Friday, reaching $32.35. The stock had a trading volume of 351,707 shares, compared to its average volume of 273,400. The company has a current ratio of 1.21, a quick ratio of 0.78 and a debt-to-equity ratio of 4.70. The stock’s 50 day moving average is $32.07 and its two-hundred day moving average is $31.55. The firm has a market cap of $3.15 billion, a PE ratio of 12.54 and a beta of 0.81. Sunoco LP has a 52 week low of $23.80 and a 52 week high of $34.09.
Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.24). The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.41 billion. Sunoco had a return on equity of 31.52% and a net margin of 0.96%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. On average, research analysts anticipate that Sunoco LP will post 2.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.8255 per share. This represents a $3.30 annualized dividend and a dividend yield of 10.21%. The ex-dividend date of this dividend is Monday, November 4th. Sunoco’s dividend payout ratio is currently 127.91%.
In other Sunoco news, insider Machell Simon bought 6,305 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average price of $13.45 per share, for a total transaction of $84,802.25.
Several equities research analysts recently weighed in on SUN shares. ValuEngine cut Sunoco from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. Mizuho initiated coverage on Sunoco in a research note on Monday, October 28th. They issued a “buy” rating and a $36.00 price target on the stock. Raymond James increased their target price on Sunoco from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised Sunoco from an “underperform” rating to a “market perform” rating in a research note on Friday, October 18th. Finally, Barclays set a $33.00 target price on Sunoco and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Sunoco has a consensus rating of “Hold” and an average target price of $31.78.
Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.
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