Global X Management Co. LLC Has $6,269,000 Stake in Sunoco LP (SUN)
Global X Management Co. LLC raised its position in Sunoco LP (NYSE:SUN) by 13.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,086 shares of the company’s stock after buying an additional 26,347 shares during the period. Global X Management Co. LLC owned 0.19% of Sunoco worth $6,269,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in SUN. PNC Financial Services Group Inc. acquired a new position in Sunoco during the third quarter worth approximately $175,000. Advisors Capital Management LLC acquired a new position in Sunoco during the third quarter worth approximately $2,574,000. Wells Fargo & Company MN increased its position in Sunoco by 13.8% in the third quarter. Wells Fargo & Company MN now owns 154,036 shares of the company’s stock worth $4,468,000 after buying an additional 18,680 shares during the last quarter. Welch Capital Partners LLC NY acquired a new position in Sunoco during the third quarter worth approximately $4,295,000. Finally, Gilman Hill Asset Management LLC increased its position in Sunoco by 4.8% in the third quarter. Gilman Hill Asset Management LLC now owns 10,875 shares of the company’s stock worth $315,000 after buying an additional 500 shares during the last quarter. 37.41% of the stock is owned by institutional investors.
Shares of Sunoco LP (NYSE:SUN) traded up 12.00% during midday trading on Wednesday, hitting $23.99. 3,011,875 shares of the stock traded hands. Sunoco LP has a 52 week low of $21.01 and a 52 week high of $40.06. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 16.78 and a beta of 0.68. The firm’s 50-day moving average is $26.51 and its 200 day moving average is $29.51.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, November 7th were given a dividend of $0.8255 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $3.30 annualized dividend and a yield of 15.42%. Sunoco’s dividend payout ratio is currently 297.30%.
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A number of equities analysts have recently commented on the stock. Citigroup Inc. downgraded shares of Sunoco from a “neutral” rating to a “sell” rating in a report on Monday, November 21st. Credit Suisse Group AG reiterated a “neutral” rating and set a $31.00 target price on shares of Sunoco in a research report on Tuesday, November 15th. Zacks Investment Research cut shares of Sunoco from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 13th. Mizuho began coverage on shares of Sunoco in a research report on Thursday, September 29th. They set a “neutral” rating and a $31.00 target price for the company. Finally, Vetr upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $31.33 target price for the company in a research report on Monday, September 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Sunoco has an average rating of “Hold” and an average price target of $34.41.
Sunoco Company Profile
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.
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