Sunoco LP (NYSE:SUN) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its position in shares of Sunoco LP (NYSE:SUN) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,821 shares of the oil and gas company’s stock after buying an additional 690 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.19% of Sunoco worth $11,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in shares of Sunoco in the 4th quarter valued at $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of Sunoco in the fourth quarter valued at about $30,000. Compass Wealth Management LLC boosted its stake in shares of Sunoco by 60.0% during the third quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after buying an additional 300 shares during the period. Allworth Financial LP grew its holdings in shares of Sunoco by 250.0% during the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after buying an additional 500 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in Sunoco in the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus downgraded Sunoco from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research note on Tuesday, February 20th. Raymond James raised their target price on shares of Sunoco from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Mizuho boosted their target price on Sunoco from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.71.

Insider Activity

In related news, Director David K. Skidmore purchased 1,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average price of $52.10 per share, with a total value of $78,150.00. Following the completion of the transaction, the director now owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sunoco Price Performance

NYSE SUN traded up $0.61 during mid-day trading on Friday, hitting $55.91. The stock had a trading volume of 613,216 shares, compared to its average volume of 664,122. The company has a 50 day simple moving average of $58.88 and a 200 day simple moving average of $57.35. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 15.36 and a beta of 1.29. Sunoco LP has a 52-week low of $41.95 and a 52-week high of $64.89. The company has a quick ratio of 0.76, a current ratio of 1.40 and a debt-to-equity ratio of 3.66.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). The firm had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Sunoco had a net margin of 1.71% and a return on equity of 37.91%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. Equities analysts forecast that Sunoco LP will post 5.07 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.876 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s dividend payout ratio is 92.58%.

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.