Sunoco LP (NYSE:SUN) Shares Bought by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC grew its position in Sunoco LP (NYSE:SUN) by 128.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,886 shares of the oil and gas company’s stock after purchasing an additional 12,326 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Sunoco were worth $1,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SUN. Tortoise Capital Advisors L.L.C. increased 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 valued at $76,406,000 after buying an additional 1,346,258 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Sunoco by 5,437.3% during 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 in the last quarter. Clearbridge Investments LLC raised its position in shares of Sunoco by 176.6% in the 2nd quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company’s stock valued at $39,591,000 after purchasing an additional 447,072 shares during the last quarter. Adams Asset Advisors LLC boosted its stake in Sunoco by 82.3% in the 2nd quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company’s stock worth $32,315,000 after purchasing an additional 258,103 shares in the last quarter. Finally, Energy Income Partners LLC purchased a new stake in Sunoco during the 1st quarter worth approximately $10,494,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SUN. JPMorgan Chase & Co. raised their price target on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Royal Bank of Canada boosted their price target on Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays cut their price objective on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Sunoco Stock Up 3.3 %

Shares of SUN opened at $53.12 on Wednesday. The stock’s 50-day moving average price is $52.84 and its 200-day moving average price is $53.83. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 7.03 and a beta of 1.31. Sunoco LP has a 52 week low of $49.45 and a 52 week high of $64.89.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $2.62. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. On average, sell-side analysts predict that Sunoco LP will post 8.07 EPS for the current year.

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be given a dividend of $0.8756 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.59%. Sunoco’s dividend payout ratio is presently 46.30%.

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.