8,620 Shares in Sunoco LP $SUN Bought by Cypress Capital Group

Cypress Capital Group acquired a new position in shares of Sunoco LP (NYSE:SUN) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,620 shares of the oil and gas company’s stock, valued at approximately $462,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its position in Sunoco by 12.3% during the 1st quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company’s stock worth $1,343,080,000 after acquiring an additional 2,529,170 shares during the period. Invesco Ltd. boosted its position in Sunoco by 3.3% during the 1st quarter. Invesco Ltd. now owns 9,165,717 shares of the oil and gas company’s stock worth $532,162,000 after acquiring an additional 296,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sunoco by 14.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,978,209 shares of the oil and gas company’s stock worth $172,915,000 after acquiring an additional 369,508 shares during the period. Energy Income Partners LLC boosted its position in Sunoco by 2.6% during the 1st quarter. Energy Income Partners LLC now owns 1,810,296 shares of the oil and gas company’s stock worth $105,106,000 after acquiring an additional 45,935 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its position in Sunoco by 0.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 691,096 shares of the oil and gas company’s stock worth $37,036,000 after acquiring an additional 3,852 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Sunoco from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Mizuho reduced their price target on Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sunoco in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.50.

Sunoco Trading Up 2.0%

Shares of Sunoco stock opened at $50.40 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 1.90. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 24.83 and a beta of 0.53. The business has a fifty day simple moving average of $51.00 and a 200-day simple moving average of $53.39. Sunoco LP has a fifty-two week low of $47.98 and a fifty-two week high of $59.88.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.35). The company had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the firm earned $3.85 earnings per share. On average, equities analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a dividend of $0.9088 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.2%. This is a boost from Sunoco’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, August 8th. Sunoco’s payout ratio is presently 179.31%.

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.