Flagship Harbor Advisors LLC Buys Shares of 3,510 Sunoco LP (NYSE:SUN)

Flagship Harbor Advisors LLC purchased a new position in Sunoco LP (NYSE:SUN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,510 shares of the oil and gas company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently modified their holdings of SUN. Steward Partners Investment Advisory LLC raised its holdings in Sunoco by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 182 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Sunoco by 5.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,262 shares of the oil and gas company’s stock worth $306,000 after buying an additional 279 shares in the last quarter. United Advisor Group LLC raised its stake in shares of Sunoco by 4.9% in the first quarter. United Advisor Group LLC now owns 7,479 shares of the oil and gas company’s stock worth $434,000 after buying an additional 351 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Sunoco by 14.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,022 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 393 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in shares of Sunoco by 4.7% during the 4th quarter. IHT Wealth Management LLC now owns 10,075 shares of the oil and gas company’s stock valued at $518,000 after acquiring an additional 448 shares during the period. Institutional investors own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SUN. Mizuho raised their target price on shares of Sunoco from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 3rd. Barclays reduced their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and an average target price of $64.75.

Sunoco Stock Performance

NYSE:SUN opened at $53.27 on Friday. The stock has a 50-day moving average price of $55.28 and a 200 day moving average price of $55.34. The stock has a market capitalization of $8.14 billion, a P/E ratio of 9.60 and a beta of 0.62. Sunoco LP has a 12-month low of $48.00 and a 12-month high of $59.88. The company has a current ratio of 1.55, a quick ratio of 0.86 and a debt-to-equity ratio of 1.85.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business earned $2.26 earnings per share. Equities research analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.8976 per share. This represents a $3.59 annualized dividend and a yield of 6.74%. This is a boost from Sunoco’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, May 9th. Sunoco’s dividend payout ratio (DPR) is presently 64.68%.

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.