Raymond James Financial Services Advisors Inc. Acquires 690 Shares of Sunoco LP (NYSE:SUN)

Raymond James Financial Services Advisors Inc. grew its holdings in shares of Sunoco LP (NYSE:SUN) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,821 shares of the oil and gas company’s stock after purchasing an additional 690 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Sunoco were worth $11,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Securities Inc. acquired a new position in Sunoco during the fourth quarter worth $27,000. ICA Group Wealth Management LLC bought a new stake in shares of Sunoco during the 4th quarter worth about $30,000. Compass Wealth Management LLC increased its holdings in shares of Sunoco by 60.0% during the 3rd quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP raised its stake in shares of Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 500 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in Sunoco in the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SUN shares. JPMorgan Chase & Co. increased their price target on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company upped their price objective on shares of Sunoco from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 20th. Raymond James lifted their target price on shares of Sunoco from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Citigroup lowered shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Tuesday, February 27th. Finally, StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Sunoco has an average rating of “Hold” and a consensus price target of $62.71.

Insider Transactions at Sunoco

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

Sunoco Stock Performance

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

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of $0.96 by ($2.46). Sunoco had a net margin of 1.71% and a return on equity of 37.91%. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts expect that Sunoco LP will post 5.07 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.27%. The ex-dividend date is Friday, May 10th. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s dividend payout ratio (DPR) is presently 92.58%.

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.