Register Financial Advisors LLC Takes Position in Sunoco LP (NYSE:SUN)

Register Financial Advisors LLC purchased a new stake in shares of Sunoco LP (NYSE:SUN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 913 shares of the oil and gas company’s stock, valued at approximately $55,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Sunoco during the 4th quarter valued at $27,000. ICA Group Wealth Management LLC bought a new position in Sunoco in the 4th quarter worth $30,000. Allworth Financial LP raised its holdings in Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 500 shares during the period. Retirement Solution Inc. bought a new position in Sunoco in the 4th quarter worth $200,000. Finally, Alpha Cubed Investments LLC bought a new position in Sunoco in the 4th quarter worth $207,000. 24.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SUN has been the topic of a number of recent research reports. Barclays initiated coverage on Sunoco in a report on Monday, June 10th. They issued an “overweight” rating and a $61.00 target price on the stock. Stifel Nicolaus raised Sunoco from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Friday, June 7th. StockNews.com raised Sunoco from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Citigroup raised Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, June 18th. Finally, Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and decreased their price target for the company from $60.00 to $59.00 in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Insider Activity

In related news, CEO Joseph Kim purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $50.50 per share, for a total transaction of $252,500.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $505,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Brian A. Hand purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $49.59 per share, for a total transaction of $99,180.00. Following the completion of the transaction, the executive vice president now owns 153,255 shares in the company, valued at approximately $7,599,915.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Kim purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $50.50 per share, with a total value of $252,500.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $505,000. The disclosure for this purchase can be found here. Insiders bought a total of 9,500 shares of company stock worth $479,570 over the last 90 days.

Sunoco Trading Down 0.6 %

Shares of Sunoco stock opened at $56.60 on Friday. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 12.61 and a beta of 1.29. The business has a 50-day moving average price of $53.99 and a 200-day moving average price of $57.56. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 3.39. Sunoco LP has a twelve month low of $43.10 and a twelve month high of $64.89.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.13 billion. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. Equities research analysts anticipate that Sunoco LP will post 6.09 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.876 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.19%. Sunoco’s dividend payout ratio (DPR) is presently 77.95%.

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.