72,000 Shares in Sunoco LP (NYSE:SUN) Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. acquired a new stake in Sunoco LP (NYSE:SUN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 72,000 shares of the oil and gas company’s stock, valued at approximately $3,703,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its stake in Sunoco by 11.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock valued at $5,236,000 after purchasing an additional 10,080 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Sunoco in the 4th quarter worth approximately $256,000. JPMorgan Chase & Co. lifted its stake in Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after purchasing an additional 455,361 shares in the last quarter. FORA Capital LLC purchased a new position in Sunoco during the 3rd quarter valued at about $524,000. Finally, HighTower Advisors LLC boosted its stake in shares of Sunoco by 4.1% in the third quarter. HighTower Advisors LLC now owns 27,364 shares of the oil and gas company’s stock valued at $1,467,000 after purchasing an additional 1,073 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

SUN has been the topic of a number of recent analyst reports. Mizuho increased their price objective on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Barclays increased their price objective on Sunoco from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Royal Bank of Canada raised their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Sunoco Stock Performance

Shares of SUN stock opened at $56.94 on Friday. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 8.63 and a beta of 1.35. The company’s 50-day simple moving average is $56.98 and its 200-day simple moving average is $54.28. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. Sunoco LP has a one year low of $49.45 and a one year high of $62.55.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. Equities analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.8865 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 annualized dividend and a dividend yield of 6.23%. This is a boost from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio is currently 53.64%.

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.