Moors & Cabot Inc. Buys 1,277 Shares of Sunoco LP (NYSE:SUN)

Moors & Cabot Inc. raised its stake in Sunoco LP (NYSE:SUN) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,624 shares of the oil and gas company’s stock after buying an additional 1,277 shares during the quarter. Moors & Cabot Inc.’s holdings in Sunoco were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new stake in shares of Sunoco in the 1st quarter valued at approximately $370,000. Keeley Teton Advisors LLC acquired a new stake in Sunoco in the first quarter worth $301,000. Energy Income Partners LLC bought a new position in shares of Sunoco during the first quarter worth $10,494,000. SVB Wealth LLC acquired a new position in shares of Sunoco in the 1st quarter valued at $248,000. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Sunoco by 5.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,877 shares of the oil and gas company’s stock valued at $595,000 after buying an additional 498 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

Analysts Set New Price Targets

SUN has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada raised their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Sunoco has an average rating of “Moderate Buy” and a consensus price target of $62.25.

Sunoco Price Performance

NYSE SUN opened at $54.32 on Friday. The firm’s 50 day moving average is $52.79 and its 200-day moving average is $53.57. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $8.28 billion, a PE ratio of 12.49 and a beta of 1.31. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts anticipate that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.45%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

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.