Strategic Financial Concepts LLC Makes New Investment in Sunoco LP (NYSE:SUN)

Strategic Financial Concepts LLC purchased a new stake in Sunoco LP (NYSE:SUN) during the second quarter, HoldingsChannel.com reports. The firm purchased 68,194 shares of the oil and gas company’s stock, valued at approximately $3,856,000.

Several other institutional investors also recently made changes to their positions in SUN. Principal Securities Inc. acquired a new position in Sunoco during the 4th quarter worth approximately $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Sunoco during the fourth quarter worth $30,000. CNB Bank purchased a new position in shares of Sunoco in the first quarter valued at $30,000. First Horizon Advisors Inc. acquired a new stake in Sunoco during the 2nd quarter valued at $38,000. Finally, Register Financial Advisors LLC purchased a new stake in Sunoco during the 1st quarter worth $55,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on SUN shares. Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $60.00 to $59.00 in a research report on Tuesday, June 4th. Citigroup upgraded Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, June 18th. Barclays reduced their target price on Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Sunoco presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.14.

Sunoco Price Performance

Shares of NYSE SUN opened at $51.87 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.72 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 11.55 and a beta of 1.30. Sunoco LP has a twelve month low of $44.26 and a twelve month high of $64.89. The business has a 50 day simple moving average of $54.55 and a 200-day simple moving average of $55.86.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $1.23 by $2.62. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Sunoco LP will post 8.09 earnings per share for the current year.

Sunoco Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.75%. The ex-dividend date was Friday, August 9th. Sunoco’s dividend payout ratio (DPR) is presently 77.95%.

About Sunoco

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.