MML Investors Services LLC Purchases 541 Shares of Sunoco LP (NYSE:SUN)

MML Investors Services LLC increased its position in shares of Sunoco LP (NYSE:SUN) by 9.8% during the 3rd quarter, Holdings Channel reports. The firm owned 6,087 shares of the oil and gas company’s stock after purchasing an additional 541 shares during the quarter. MML Investors Services LLC’s holdings in Sunoco were worth $327,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new position in shares of Sunoco in the 2nd quarter worth approximately $32,000. Redwood Wealth Management Group LLC purchased a new position in Sunoco in the second quarter worth $46,000. HHM Wealth Advisors LLC purchased a new position in Sunoco in the second quarter worth $93,000. Wealth Alliance Advisory Group LLC bought a new position in Sunoco in the 2nd quarter valued at $207,000. Finally, Tyche Wealth Partners LLC increased its position in shares of Sunoco by 5.4% during the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 200 shares during the last quarter. 24.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays raised their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upped their price objective on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

Sunoco Price Performance

Shares of NYSE SUN opened at $51.99 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89. The stock has a market cap of $7.92 billion, a PE ratio of 11.95 and a beta of 1.33. The stock has a fifty day moving average of $52.92 and a 200-day moving average of $53.76.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the prior year, the company earned $2.95 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts anticipate that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.74%. Sunoco’s dividend payout ratio (DPR) is currently 80.46%.

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.