Sunoco LP $SUN Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its holdings in shares of Sunoco LP (NYSE:SUN) by 7.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,474 shares of the oil and gas company’s stock after purchasing an additional 12,806 shares during the quarter. Royal Bank of Canada’s holdings in Sunoco were worth $12,375,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SUN. Recurrent Investment Advisors LLC boosted its stake in shares of Sunoco by 51.5% during the 1st quarter. Recurrent Investment Advisors LLC now owns 1,027,877 shares of the oil and gas company’s stock valued at $66,781,000 after buying an additional 349,254 shares during the last quarter. Infrastructure Capital Advisors LLC increased its stake in shares of Sunoco by 34.1% in the first quarter. Infrastructure Capital Advisors LLC now owns 972,935 shares of the oil and gas company’s stock worth $63,212,000 after buying an additional 247,569 shares during the last quarter. Gateway Wealth Partners LLC acquired a new stake in Sunoco in the first quarter valued at $227,000. Waverly Advisors LLC raised its holdings in Sunoco by 5.3% in the first quarter. Waverly Advisors LLC now owns 132,058 shares of the oil and gas company’s stock valued at $8,580,000 after acquiring an additional 6,607 shares in the last quarter. Finally, Lido Advisors LLC bought a new position in Sunoco during the 1st quarter valued at $397,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SUN. Mizuho set a $83.00 price objective on shares of Sunoco in a report on Friday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Sunoco from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Barclays lifted their price target on Sunoco from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 price objective on shares of Sunoco in a report on Wednesday, May 6th. Finally, Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $79.00.

Sunoco Stock Down 4.1%

Shares of NYSE:SUN opened at $70.58 on Friday. The stock has a market capitalization of $14.46 billion, a price-to-earnings ratio of 15.62 and a beta of 0.41. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $78.11. The company’s fifty day moving average is $69.31 and its two-hundred day moving average is $65.89. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). Sunoco had a return on equity of 19.62% and a net margin of 2.88%.The business had revenue of $14.26 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 164.5% compared to the same quarter last year. Equities analysts anticipate that Sunoco LP will post 11.09 EPS for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be issued a $1.0023 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.99. This represents a $4.01 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 7th. Sunoco’s dividend payout ratio is 87.61%.

About Sunoco

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.