Sunoco LP (NYSE:SUN) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Sunoco LP (NYSE:SUN) by 26.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,191,570 shares of the oil and gas company’s stock after buying an additional 455,361 shares during the quarter. JPMorgan Chase & Co. owned about 1.44% of Sunoco worth $117,644,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. grew its position in Sunoco by 26,345.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company’s stock worth $76,406,000 after purchasing an additional 1,346,258 shares during the period. Infrastructure Capital Advisors LLC boosted its stake in shares of Sunoco by 3.1% in the third quarter. Infrastructure Capital Advisors LLC now owns 1,087,407 shares of the oil and gas company’s stock worth $58,372,000 after buying an additional 32,239 shares during the last quarter. Recurrent Investment Advisors LLC grew its holdings in Sunoco by 29.3% during the third quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company’s stock worth $46,389,000 after acquiring an additional 195,583 shares during the period. Clearbridge Investments LLC raised its position in Sunoco by 176.6% during the second quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company’s stock valued at $39,591,000 after acquiring an additional 447,072 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Sunoco by 5,437.3% in the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after acquiring an additional 562,435 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Barclays lifted their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada increased their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

Sunoco Trading Up 1.0 %

SUN stock opened at $51.44 on Thursday. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89. The business’s 50-day moving average is $52.86 and its 200 day moving average is $53.71. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 11.83 and a beta of 1.33.

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 firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 earnings per share. On average, sell-side analysts anticipate that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.8756 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a yield of 6.81%. Sunoco’s payout ratio is 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.