8,993 Shares in Sunoco LP (NYSE:SUN) Acquired by Bokf Na

Bokf Na acquired a new position in shares of Sunoco LP (NYSE:SUN) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 8,993 shares of the oil and gas company’s stock, valued at approximately $508,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of Sunoco during the 4th quarter valued at about $27,000. ICA Group Wealth Management LLC acquired a new position in Sunoco in the 4th quarter valued at about $30,000. CNB Bank purchased a new stake in shares of Sunoco in the 1st quarter valued at approximately $30,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Sunoco in the 2nd quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. acquired a new stake in shares of Sunoco during the 2nd quarter worth approximately $38,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Trading Up 1.9 %

NYSE SUN opened at $54.50 on Tuesday. 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 has a market cap of $5.50 billion, a price-to-earnings ratio of 12.13 and a beta of 1.30. The firm has a 50 day simple moving average of $54.22 and a 200-day simple moving average of $55.57. Sunoco LP has a one year low of $45.78 and a one year high of $64.89.

Sunoco (NYSE:SUN) last issued 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. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter last year, the company posted $0.78 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Sunoco LP will post 8.09 EPS for the current fiscal year.

Sunoco Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a dividend of $0.8756 per share. The ex-dividend date was Friday, August 9th. This represents a $3.50 annualized dividend and a yield of 6.43%. Sunoco’s payout ratio is 77.95%.

Analyst Ratings Changes

Several research firms have issued reports on SUN. Stifel Nicolaus raised Sunoco from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Friday, June 7th. Citigroup raised Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. upped their target price on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Mizuho upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and dropped their price target for the company from $60.00 to $59.00 in a research report on Tuesday, June 4th. Finally, StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.14.

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.