Sunoco LP (NYSE:SUN) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP lifted its position in Sunoco LP (NYSE:SUN) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,235 shares of the oil and gas company’s stock after purchasing an additional 20,982 shares during the period. First Trust Advisors LP owned about 0.05% of Sunoco worth $4,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUN. Independence Bank of Kentucky purchased a new stake in shares of Sunoco during the 4th quarter worth about $53,000. Steward Partners Investment Advisory LLC grew its holdings in Sunoco by 17.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 182 shares during the period. Global Retirement Partners LLC increased its position in shares of Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 788 shares in the last quarter. Huntington National Bank raised its stake in shares of Sunoco by 440.3% during the 4th quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company’s stock worth $92,000 after buying an additional 1,453 shares during the period. Finally, Allworth Financial LP grew its stake in Sunoco by 90.6% in the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 819 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Up 1.6 %

SUN stock opened at $57.92 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average of $56.96 and a two-hundred day moving average of $54.98. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 8.78 and a beta of 1.06.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. As a group, analysts forecast that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be issued a $0.8976 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 6.20%. This is a positive change from Sunoco’s previous quarterly dividend of $0.89. Sunoco’s dividend payout ratio is currently 54.39%.

Analyst Ratings Changes

A number of research firms have weighed in on SUN. Barclays reduced their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. lifted their price objective on Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Mizuho increased their target price on Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

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.