MML Investors Services LLC Has $327,000 Stock Holdings in Sunoco LP (NYSE:SUN)

MML Investors Services LLC lifted its stake in shares of Sunoco LP (NYSE:SUN) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,087 shares of the oil and gas company’s stock after acquiring an additional 541 shares during the quarter. MML Investors Services LLC’s holdings in Sunoco were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SUN. Wealth Enhancement Advisory Services LLC raised its holdings in Sunoco by 16.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,902 shares of the oil and gas company’s stock worth $221,000 after purchasing an additional 564 shares during the last quarter. Raymond James Trust N.A. raised its stake in Sunoco by 24.6% during the second quarter. Raymond James Trust N.A. now owns 4,716 shares of the oil and gas company’s stock worth $267,000 after buying an additional 932 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Sunoco by 3.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 25,473 shares of the oil and gas company’s stock valued at $1,440,000 after buying an additional 807 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Sunoco during the 2nd quarter worth about $236,000. Finally, International Assets Investment Management LLC grew its holdings in Sunoco by 6.5% during the 2nd quarter. International Assets Investment Management LLC now owns 10,344 shares of the oil and gas company’s stock worth $585,000 after acquiring an additional 633 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SUN has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada raised their price objective on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays boosted their target price on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.75.

Sunoco Stock Performance

NYSE SUN opened at $51.99 on Wednesday. The company has a market cap of $7.92 billion, a P/E ratio of 11.95 and a beta of 1.33. The company has a fifty day simple moving average of $52.92 and a 200 day simple moving average of $53.76. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. Sell-side analysts predict that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.8756 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.74%. Sunoco’s dividend payout ratio is presently 80.46%.

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.