Sunoco LP $SUN Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sunoco LP (NYSE:SUN) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,179,502 shares of the oil and gas company’s stock after purchasing an additional 374,396 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.55% of Sunoco worth $159,007,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quadrant Private Wealth Management LLC lifted its position in Sunoco by 5.2% during the third quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company’s stock worth $212,000 after buying an additional 209 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Sunoco by 2.1% in the 2nd quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock valued at $552,000 after purchasing an additional 212 shares in the last quarter. Uhlmann Price Securities LLC grew its stake in Sunoco by 2.8% during the third quarter. Uhlmann Price Securities LLC now owns 9,036 shares of the oil and gas company’s stock worth $452,000 after buying an additional 250 shares during the period. Glenmede Investment Management LP boosted its position in Sunoco by 0.7% during the 3rd quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company’s stock worth $1,955,000 after purchasing an additional 288 shares during the period. Finally, EP Wealth Advisors LLC raised its position in Sunoco by 3.4% in the second quarter. EP Wealth Advisors LLC now owns 8,886 shares of the oil and gas company’s stock valued at $476,000 after purchasing an additional 296 shares during the period. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SUN. Raymond James Financial raised Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Monday, January 5th. Barclays set a $63.00 target price on Sunoco in a report on Friday, February 20th. Wells Fargo & Company upped their price target on Sunoco from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus increased their price objective on shares of Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Zacks Research downgraded shares of Sunoco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sunoco presently has an average rating of “Moderate Buy” and an average price target of $66.83.

Sunoco Stock Up 1.1%

Shares of Sunoco stock opened at $65.02 on Tuesday. The business has a 50-day moving average of $59.77 and a 200-day moving average of $54.90. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.38 and a quick ratio of 0.78. The company has a market capitalization of $13.32 billion, a PE ratio of 28.64 and a beta of 0.49. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $65.24.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). The business had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $9.65 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The firm’s revenue was up 63.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, equities analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were issued a dividend of $0.9317 per share. The ex-dividend date was Friday, February 6th. This represents a $3.73 annualized dividend and a yield of 5.7%. This is a boost from Sunoco’s previous quarterly dividend of $0.92. Sunoco’s dividend payout ratio (DPR) is presently 164.32%.

Sunoco Company Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.