Sunoco LP $SUN Shares Acquired by MGO One Seven LLC

MGO One Seven LLC increased its position in shares of Sunoco LP (NYSE:SUN) by 133.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,297 shares of the oil and gas company’s stock after acquiring an additional 8,731 shares during the period. MGO One Seven LLC’s holdings in Sunoco were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SUN. Hennessy Advisors Inc. purchased a new stake in Sunoco during the second quarter worth about $8,939,000. Duff & Phelps Investment Management Co. grew its holdings in shares of Sunoco by 470.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 113,263 shares of the oil and gas company’s stock valued at $6,070,000 after purchasing an additional 93,394 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Sunoco by 58.2% in the third quarter. Chickasaw Capital Management LLC now owns 228,429 shares of the oil and gas company’s stock valued at $11,424,000 after purchasing an additional 84,000 shares in the last quarter. Energy Income Partners LLC increased its stake in Sunoco by 4.1% during the 2nd quarter. Energy Income Partners LLC now owns 1,883,992 shares of the oil and gas company’s stock worth $100,963,000 after buying an additional 73,696 shares during the period. Finally, Sovereign Investment Advisors LLC acquired a new stake in Sunoco during the 2nd quarter worth approximately $2,332,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Trading Down 0.1%

NYSE:SUN opened at $57.57 on Friday. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $59.88. The stock has a market cap of $11.78 billion, a P/E ratio of 19.65 and a beta of 0.49. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.50 and a current ratio of 3.11. The stock has a 50-day simple moving average of $53.94 and a 200-day simple moving average of $52.71.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.90). The business had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.59 billion. Sunoco had a net margin of 2.61% and a return on equity of 13.94%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned ($0.26) earnings per share. As a group, analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Thursday, October 30th were issued a $0.9202 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Thursday, October 30th. This is a positive change from Sunoco’s previous quarterly dividend of $0.91. Sunoco’s dividend payout ratio (DPR) is currently 125.60%.

Analysts Set New Price Targets

Several equities analysts have commented on SUN shares. Wells Fargo & Company set a $65.00 price target on shares of Sunoco and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Raymond James Financial raised Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research note on Monday, January 5th. Weiss Ratings upgraded Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Barclays reissued an “overweight” rating and set a $57.00 price objective on shares of Sunoco in a research report on Monday, November 17th. Finally, Zacks Research raised shares of Sunoco to a “strong-buy” rating in a report on Thursday, January 1st. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $65.00.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.