Midwest Trust Co Buys New Position in Sunoco LP $SUN

Midwest Trust Co bought a new stake in Sunoco LP (NYSE:SUN) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 7,595 shares of the oil and gas company’s stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. EP Wealth Advisors LLC boosted its stake in shares of Sunoco by 2.2% in the first quarter. EP Wealth Advisors LLC now owns 8,590 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 186 shares during the period. Ameritas Advisory Services LLC increased its stake in Sunoco by 3.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the oil and gas company’s stock worth $278,000 after buying an additional 193 shares during the period. Sigma Planning Corp lifted its holdings in Sunoco by 1.7% during the 1st quarter. Sigma Planning Corp now owns 18,301 shares of the oil and gas company’s stock worth $1,063,000 after buying an additional 309 shares in the last quarter. Bessemer Group Inc. boosted its position in 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. Finally, 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 in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Trading Up 1.5%

NYSE:SUN opened at $50.93 on Thursday. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $59.88. The stock has a market cap of $7.79 billion, a P/E ratio of 25.09 and a beta of 0.55. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52. The stock has a 50-day simple moving average of $51.22 and a 200-day simple moving average of $52.93.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.90). The business had revenue of $31.00 million for the quarter, compared to analysts’ expectations of $5.59 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.Sunoco’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) EPS. As a group, analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Thursday, October 30th will be given a dividend of $0.9202 per share. The ex-dividend date is Thursday, October 30th. This represents a $3.68 annualized dividend and a dividend yield of 7.2%. This is a boost from Sunoco’s previous quarterly dividend of $0.91. Sunoco’s payout ratio is presently 125.60%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SUN. Weiss Ratings reiterated a “hold (c)” rating on shares of Sunoco in a research note on Wednesday, October 8th. Zacks Research lowered Sunoco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price objective on Sunoco from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Raymond James Financial restated an “outperform” rating and set a $70.00 target price on shares of Sunoco in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company set a $65.00 target price on shares of Sunoco and gave the company an “overweight” rating in a report on Wednesday, October 29th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.50.

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.