30,500 Shares in Sunoco LP $SUN Bought by MidFirst Bank

MidFirst Bank acquired a new position in Sunoco LP (NYSE:SUN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,500 shares of the oil and gas company’s stock, valued at approximately $1,599,000.

Other large investors also recently modified their holdings of the company. Corient Private Wealth LLC raised its stake in Sunoco by 366.8% during the fourth quarter. Corient Private Wealth LLC now owns 70,040 shares of the oil and gas company’s stock worth $3,671,000 after buying an additional 55,035 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Sunoco during the fourth quarter valued at $834,000. NewEdge Advisors LLC boosted its position in Sunoco by 7.7% during the fourth quarter. NewEdge Advisors LLC now owns 7,628 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 548 shares during the last quarter. Susquehanna Portfolio Strategies LLC acquired a new stake in Sunoco during the 4th quarter worth about $5,260,000. Finally, Infrastructure Capital Advisors LLC raised its position in shares of Sunoco by 11.9% in the 4th quarter. Infrastructure Capital Advisors LLC now owns 725,366 shares of the oil and gas company’s stock worth $38,016,000 after acquiring an additional 76,939 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Down 0.4%

SUN opened at $63.27 on Friday. Sunoco LP has a fifty-two week low of $47.98 and a fifty-two week high of $72.88. The company’s 50-day moving average is $66.73 and its 200 day moving average is $61.70. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92. The firm has a market capitalization of $12.96 billion, a P/E ratio of 16.18 and a beta of 0.43.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Sunoco’s quarterly revenue was up 106.4% on a year-over-year basis. Research analysts expect that Sunoco LP will post 7.92 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $0.9899 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 dividend on an annualized basis and a yield of 6.3%. Sunoco’s dividend payout ratio is presently 101.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SUN shares. Weiss Ratings raised Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 21st. Zacks Research raised Sunoco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Wall Street Zen lowered Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Citigroup raised their price objective on shares of Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $74.12.

Sunoco Company 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.