Summit Financial LLC Purchases 5,212 Shares of Sunoco LP (NYSE:SUN)

Summit Financial LLC raised its holdings in shares of Sunoco LP (NYSE:SUN) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,448 shares of the oil and gas company’s stock after purchasing an additional 5,212 shares during the quarter. Summit Financial LLC’s holdings in Sunoco were worth $3,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake 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 buying an additional 455,361 shares in the last quarter. Barclays PLC grew its stake in Sunoco by 908,833.3% in the 3rd quarter. Barclays PLC now owns 436,288 shares of the oil and gas company’s stock valued at $23,419,000 after buying an additional 436,240 shares in the last quarter. ING Groep NV raised its holdings in Sunoco by 223.7% during the 4th quarter. ING Groep NV now owns 513,715 shares of the oil and gas company’s stock valued at $26,426,000 after acquiring an additional 355,000 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Sunoco during the fourth quarter worth $17,739,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Sunoco by 32,166.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company’s stock worth $12,137,000 after acquiring an additional 230,634 shares during the period. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of SUN opened at $57.92 on Tuesday. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $60.61. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The company has a market cap of $8.84 billion, a PE ratio of 8.78 and a beta of 1.35. The stock has a 50-day moving average price of $57.49 and a 200-day moving average price of $54.54.

Sunoco (NYSE:SUN) last announced 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 net margin of 3.85% and a return on equity of 22.52%. As a group, equities analysts forecast that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.8865 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a yield of 6.12%. Sunoco’s payout ratio is 53.64%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho boosted their price objective on Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. 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 report on Monday, December 9th. Finally, Barclays cut their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

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.