Moors & Cabot Inc. Buys 600 Shares of Sunoco LP (NYSE:SUN)

Moors & Cabot Inc. lifted its position in shares of Sunoco LP (NYSE:SUN) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,224 shares of the oil and gas company’s stock after purchasing an additional 600 shares during the period. Moors & Cabot Inc.’s holdings in Sunoco were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its position in shares of Sunoco by 11.7% in the third quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock valued at $5,236,000 after acquiring an additional 10,080 shares during the period. Atria Wealth Solutions Inc. bought a new stake in Sunoco in the 4th quarter valued at about $256,000. JPMorgan Chase & Co. grew its position in shares of Sunoco by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after purchasing an additional 455,361 shares in the last quarter. FORA Capital LLC bought a new position in shares of Sunoco during the third quarter worth approximately $524,000. Finally, HighTower Advisors LLC raised its position in shares of Sunoco by 4.1% in the third quarter. HighTower Advisors LLC now owns 27,364 shares of the oil and gas company’s stock valued at $1,467,000 after buying an additional 1,073 shares in the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Trading Up 0.6 %

Shares of SUN stock opened at $57.78 on Friday. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $62.55. The stock’s fifty day moving average price is $56.24 and its two-hundred day moving average price is $54.11. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. The company has a market cap of $8.82 billion, a PE ratio of 8.75 and a beta of 1.35.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Equities analysts predict that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.8865 per share. The ex-dividend date was Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a dividend yield of 6.14%. Sunoco’s dividend payout ratio is 53.64%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SUN. Mizuho increased their price target on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Royal Bank of Canada increased their target price on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Barclays boosted their price target on Sunoco from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Sunoco has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

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.