Sunoco LP (NYSE:SUN) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. grew its position in shares of Sunoco LP (NYSE:SUN) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,232 shares of the oil and gas company’s stock after purchasing an additional 1,144 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Sunoco were worth $1,465,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Sunoco by 2.3% during the fourth quarter. Invesco Ltd. now owns 8,868,926 shares of the oil and gas company’s stock worth $456,218,000 after purchasing an additional 198,859 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sunoco by 5.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company’s stock worth $134,192,000 after purchasing an additional 128,042 shares in the last quarter. Recurrent Investment Advisors LLC lifted its stake in Sunoco by 2.9% during the fourth quarter. Recurrent Investment Advisors LLC now owns 888,862 shares of the oil and gas company’s stock worth $45,723,000 after purchasing an additional 24,686 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Sunoco by 63.5% during the fourth quarter. Neuberger Berman Group LLC now owns 497,891 shares of the oil and gas company’s stock worth $25,611,000 after purchasing an additional 193,278 shares in the last quarter. Finally, Barclays PLC lifted its stake in Sunoco by 6.8% during the fourth quarter. Barclays PLC now owns 466,019 shares of the oil and gas company’s stock worth $23,971,000 after purchasing an additional 29,731 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Up 1.0%

Sunoco stock opened at $55.00 on Friday. Sunoco LP has a 1-year low of $48.00 and a 1-year high of $59.88. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 0.86. The stock has a market cap of $8.40 billion, a PE ratio of 9.91 and a beta of 0.61. The stock’s fifty day moving average is $54.89 and its two-hundred day moving average is $55.37.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.8976 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Sunoco’s previous quarterly dividend of $0.89. This represents a $3.59 dividend on an annualized basis and a yield of 6.53%. Sunoco’s dividend payout ratio (DPR) is currently 64.68%.

Wall Street Analysts Forecast Growth

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

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.