Focus Financial Network Inc. Increases Stock Position in Sunoco LP (NYSE:SUN)

Focus Financial Network Inc. lifted its stake in Sunoco LP (NYSE:SUN) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,558 shares of the oil and gas company’s stock after purchasing an additional 457 shares during the period. Focus Financial Network Inc.’s holdings in Sunoco were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Sunoco by 5,437.3% in the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after acquiring an additional 562,435 shares during the period. JPMorgan Chase & Co. increased its position in shares of Sunoco by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after purchasing an additional 455,361 shares during the last quarter. Barclays PLC lifted its stake in shares of Sunoco by 908,833.3% in the 3rd quarter. Barclays PLC now owns 436,288 shares of the oil and gas company’s stock worth $23,419,000 after purchasing an additional 436,240 shares during the period. Recurrent Investment Advisors LLC boosted its holdings in shares of Sunoco by 29.3% in the third quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company’s stock worth $46,389,000 after buying an additional 195,583 shares during the last quarter. Finally, ING Groep NV bought a new stake in Sunoco during the third quarter valued at approximately $8,520,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on SUN shares. Royal Bank of Canada increased their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Mizuho lifted their target price on Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Barclays upped their price target on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.43.

Sunoco Trading Down 1.7 %

Shares of Sunoco stock opened at $56.35 on Thursday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The company has a fifty day moving average of $53.95 and a 200 day moving average of $53.42. The company has a market capitalization of $8.59 billion, a P/E ratio of 12.95 and a beta of 1.36. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. On average, sell-side analysts anticipate that Sunoco LP will post 9.63 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a $0.8865 dividend. This represents a $3.55 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s payout ratio is 80.46%.

Sunoco Company 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.