Mercer Global Advisors Inc. ADV Acquires 1,028 Shares of Sunoco LP (NYSE:SUN)

Mercer Global Advisors Inc. ADV grew its holdings in Sunoco LP (NYSE:SUN) by 9.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,185 shares of the oil and gas company’s stock after buying an additional 1,028 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Sunoco were worth $689,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. ICA Group Wealth Management LLC acquired a new stake in Sunoco in the 4th quarter valued at about $30,000. CNB Bank bought a new position in shares of Sunoco in the 1st quarter valued at about $30,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco during the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. acquired a new stake in shares of Sunoco during the 2nd quarter worth approximately $38,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Sunoco during the second quarter worth approximately $46,000. 24.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted 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. Barclays dropped their price objective on Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and lowered their price target for the company from $60.00 to $59.00 in a research note on Tuesday, June 4th. Finally, Citigroup upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.14.

Sunoco Trading Down 0.5 %

NYSE SUN opened at $53.09 on Friday. Sunoco LP has a one year low of $46.55 and a one year high of $64.89. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. The firm has a market cap of $5.35 billion, a P/E ratio of 11.82 and a beta of 1.30. The stock’s 50-day moving average is $53.57 and its 200-day moving average is $55.11.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, topping the consensus estimate of $1.23 by $2.62. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. Sell-side analysts anticipate that Sunoco LP will post 8.09 earnings per share 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 $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date was Friday, August 9th. Sunoco’s payout ratio is presently 77.95%.

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.