Global X Management Co. LLC Has $6,269,000 Stake in Sunoco LP (SUN)
Global X Management Co. LLC boosted its stake in shares of Sunoco LP (NYSE:SUN) by 13.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,086 shares of the company’s stock after buying an additional 26,347 shares during the period. Global X Management Co. LLC’s holdings in Sunoco were worth $6,269,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Sunoco by 8.3% in the second quarter. Royal Bank of Canada now owns 1,129,546 shares of the company’s stock valued at $33,830,000 after buying an additional 86,207 shares in the last quarter. Adams Asset Advisors LLC increased its position in Sunoco by 19.4% in the third quarter. Adams Asset Advisors LLC now owns 105,062 shares of the company’s stock valued at $3,047,000 after buying an additional 17,070 shares in the last quarter. Bank of Montreal Can purchased a new position in Sunoco during the second quarter valued at about $15,544,000. Duff & Phelps Investment Management Co. increased its position in Sunoco by 56.4% in the second quarter. Duff & Phelps Investment Management Co. now owns 305,000 shares of the company’s stock valued at $9,135,000 after buying an additional 110,000 shares in the last quarter. Finally, Creative Planning increased its position in Sunoco by 147.1% in the second quarter. Creative Planning now owns 4,300 shares of the company’s stock valued at $129,000 after buying an additional 2,560 shares in the last quarter. 37.41% of the stock is owned by institutional investors.
Shares of Sunoco LP (NYSE:SUN) traded up 12.00% during trading on Wednesday, hitting $23.99. The company had a trading volume of 3,011,875 shares. The firm has a market capitalization of $2.69 billion, a P/E ratio of 16.78 and a beta of 0.68. The company’s 50 day moving average is $26.51 and its 200 day moving average is $29.51. Sunoco LP has a 1-year low of $21.01 and a 1-year high of $40.06.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, November 7th were given a $0.8255 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 15.42%. Sunoco’s payout ratio is presently 297.30%.
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SUN has been the subject of several recent research reports. Citigroup Inc. downgraded Sunoco from a “neutral” rating to a “sell” rating in a research note on Monday, November 21st. Zacks Investment Research downgraded Sunoco from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 13th. Vetr raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $31.33 target price for the company in a research report on Monday, September 12th. Mizuho assumed coverage on shares of Sunoco in a research report on Thursday, September 29th. They set a “neutral” rating and a $31.00 target price for the company. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $31.00 target price on shares of Sunoco in a research report on Tuesday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.41.
Sunoco Company Profile
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.
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