EP Wealth Advisors LLC Purchases 293 Shares of Sunoco LP (NYSE:SUN)

EP Wealth Advisors LLC boosted its position in Sunoco LP (NYSE:SUN) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,296 shares of the oil and gas company’s stock after acquiring an additional 293 shares during the period. EP Wealth Advisors LLC’s holdings in Sunoco were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CNB Bank acquired a new stake in Sunoco during the 1st quarter worth $30,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco during the second quarter worth $32,000. First Horizon Advisors Inc. bought a new stake in Sunoco in the second quarter valued at about $38,000. Redwood Wealth Management Group LLC bought a new stake in Sunoco in the second quarter valued at about $46,000. Finally, Register Financial Advisors LLC bought a new position in Sunoco during the first quarter worth about $55,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Trading Down 0.2 %

NYSE SUN opened at $53.13 on Friday. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 11.80 and a beta of 1.30. Sunoco LP has a 52 week low of $46.55 and a 52 week high of $64.89. The stock’s 50 day moving average price is $53.31 and its two-hundred day moving average price is $54.82. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.72 and a current ratio of 1.26.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, topping 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 business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that Sunoco LP will post 8.09 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.50 annualized dividend and a yield of 6.59%. Sunoco’s payout ratio is presently 77.95%.

Analyst Ratings Changes

SUN has been the subject of a number of recent analyst reports. StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. 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 report on Wednesday, September 4th. Barclays lowered their price objective on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Stifel Nicolaus raised Sunoco from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Friday, June 7th. Finally, Citigroup raised Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Sunoco has a consensus rating of “Moderate Buy” and an average price target of $62.14.

Sunoco 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.