Sunoco LP $SUN Stake Boosted by Lee Financial Co

Lee Financial Co increased its position in shares of Sunoco LP (NYSE:SUN) by 573.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,705 shares of the oil and gas company’s stock after acquiring an additional 21,886 shares during the period. Lee Financial Co’s holdings in Sunoco were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. acquired a new position in Sunoco in the 3rd quarter worth about $31,000. Harbor Asset Planning Inc. acquired a new stake in shares of Sunoco during the 2nd quarter valued at about $41,000. Bessemer Group Inc. grew its stake in shares of Sunoco by 41.7% in the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 400 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Sunoco by 95.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock worth $74,000 after buying an additional 675 shares during the last quarter. Finally, State of Wyoming bought a new position in Sunoco during the second quarter valued at approximately $111,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

SUN has been the subject of several recent research reports. Wells Fargo & Company set a $65.00 target price on shares of Sunoco and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings upgraded shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Barclays restated an “overweight” rating and set a $57.00 target price on shares of Sunoco in a report on Monday, November 17th. Wall Street Zen upgraded Sunoco from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research raised Sunoco to a “strong-buy” rating in a research note on Thursday, January 1st. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, Sunoco has a consensus rating of “Buy” and a consensus price target of $65.00.

Sunoco Stock Down 2.6%

SUN stock opened at $57.51 on Friday. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 19.63 and a beta of 0.49. The company has a 50-day moving average of $54.93 and a two-hundred day moving average of $53.00. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $59.88. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50.

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

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Friday, February 6th will be issued a dividend of $0.9317 per share. This represents a $3.73 dividend on an annualized basis and a dividend yield of 6.5%. This is a boost from Sunoco’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, February 6th. Sunoco’s dividend payout ratio is presently 125.60%.

Sunoco Profile

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.