Fisher Asset Management LLC Acquires New Shares in Sunoco LP (NYSE:SUN)

Fisher Asset Management LLC bought a new position in shares of Sunoco LP (NYSE:SUN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,987 shares of the oil and gas company’s stock, valued at approximately $268,000.

Other large investors also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of Sunoco in the 2nd quarter worth about $32,000. First Horizon Advisors Inc. acquired a new position in Sunoco during the second quarter worth about $38,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Sunoco in the second quarter valued at about $46,000. HHM Wealth Advisors LLC acquired a new stake in shares of Sunoco in the second quarter valued at approximately $93,000. Finally, Wealth Alliance Advisory Group LLC purchased a new position in shares of Sunoco during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SUN shares. JPMorgan Chase & Co. increased their target price on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Royal Bank of Canada increased their price objective on Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Sunoco Stock Up 3.3 %

SUN opened at $56.46 on Monday. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89. The business has a 50-day moving average of $52.91 and a two-hundred day moving average of $53.55. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 12.98 and a beta of 1.31.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the company posted $2.95 EPS. On average, research analysts expect that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

Sunoco Company 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.