Creative Planning boosted its position in Sunoco LP (NYSE:SUN) by 17.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,300 shares of the oil and gas company’s stock after purchasing an additional 9,660 shares during the quarter. Creative Planning owned approximately 0.07% of Sunoco worth $1,605,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors acquired a new position in Sunoco in the 1st quarter valued at $102,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Sunoco in the 1st quarter worth $120,000. Winslow Evans & Crocker Inc. purchased a new position in shares of Sunoco during the 2nd quarter worth $190,000. Quad Cities Investment Group LLC purchased a new position in shares of Sunoco during the 1st quarter worth $264,000. Finally, Lee Financial Co grew its holdings in shares of Sunoco by 1,692.3% during the 1st quarter. Lee Financial Co now owns 11,650 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 11,000 shares during the period. Institutional investors and hedge funds own 29.79% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upgraded Sunoco from an “underperform” rating to a “hold” rating and set a $30.00 price target for the company in a report on Wednesday, July 18th. B. Riley set a $32.00 target price on Sunoco and gave the company a “hold” rating in a report on Monday, June 4th. ValuEngine cut Sunoco from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. TheStreet cut Sunoco from a “b-” rating to a “c” rating in a research note on Thursday, May 10th. Finally, Zacks Investment Research raised Sunoco from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.02.
Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, August 8th. The oil and gas company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Sunoco had a return on equity of 25.77% and a net margin of 0.83%. The business’s revenue for the quarter was up 59.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.59) earnings per share. equities analysts anticipate that Sunoco LP will post 1.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Tuesday, August 7th will be paid a dividend of $0.8255 per share. The ex-dividend date of this dividend is Monday, August 6th. This represents a $3.30 annualized dividend and a yield of 11.87%. Sunoco’s dividend payout ratio is presently 144.10%.
Sunoco Company Profile
Sunoco LP, together with its subsidiaries, engages in the wholesale distribution and retail sale of motor fuels primarily in the United States. The company operates through two segments, Wholesale and Retail. It serves convenience stores and commission agent locations, contracted independent convenience store operators, and other commercial customers.
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