Sunoco LP (NYSE:SUN) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its position in Sunoco LP (NYSE:SUN) by 34.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,617 shares of the oil and gas company’s stock after acquiring an additional 1,176 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sunoco were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in Sunoco in the fourth quarter valued at approximately $27,000. ICA Group Wealth Management LLC purchased a new position in shares of Sunoco in the fourth quarter worth $30,000. CNB Bank purchased a new position in shares of Sunoco in the first quarter worth $30,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Sunoco in the second quarter worth $32,000. Finally, First Horizon Advisors Inc. purchased a new position in shares of Sunoco in the second quarter worth $38,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SUN has been the subject of a number of research analyst reports. StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $60.00 to $59.00 in a report on Tuesday, June 4th. Stifel Nicolaus raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Friday, June 7th. JPMorgan Chase & Co. raised their target price on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Barclays reduced their target price on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.14.

Sunoco Stock Down 1.5 %

SUN stock opened at $52.70 on Friday. The firm has a market cap of $5.32 billion, a PE ratio of 11.74 and a beta of 1.30. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.72 and a current ratio of 1.26. The firm’s fifty day moving average is $53.94 and its 200 day moving average is $55.33. Sunoco LP has a one year low of $46.36 and a one year high of $64.89.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating the consensus estimate of $1.23 by $2.62. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. On average, research analysts forecast that Sunoco LP will post 8.09 EPS for the current year.

Sunoco Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.50 annualized dividend and a yield of 6.65%. Sunoco’s dividend payout ratio is presently 77.95%.

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.