Sunoco LP $SUN Stake Increased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sunoco LP (NYSE:SUN) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,179,502 shares of the oil and gas company’s stock after acquiring an additional 374,396 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Sunoco were worth $159,007,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quadrant Private Wealth Management LLC grew its holdings in Sunoco by 5.2% during the 3rd quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company’s stock worth $212,000 after acquiring an additional 209 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Sunoco by 2.1% in the 2nd quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock valued at $552,000 after purchasing an additional 212 shares in the last quarter. Uhlmann Price Securities LLC raised its stake in shares of Sunoco by 2.8% in the 3rd quarter. Uhlmann Price Securities LLC now owns 9,036 shares of the oil and gas company’s stock valued at $452,000 after purchasing an additional 250 shares in the last quarter. Glenmede Investment Management LP lifted its position in shares of Sunoco by 0.7% during the third quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company’s stock worth $1,955,000 after purchasing an additional 288 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its position in shares of Sunoco by 3.4% during the second quarter. EP Wealth Advisors LLC now owns 8,886 shares of the oil and gas company’s stock worth $476,000 after purchasing an additional 296 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SUN. Barclays set a $63.00 price objective on Sunoco in a report on Friday, February 20th. Raymond James Financial raised Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a report on Monday, January 5th. Stifel Nicolaus lifted their target price on Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings lowered Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.83.

Sunoco Price Performance

Shares of NYSE:SUN opened at $65.02 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.38 and a debt-to-equity ratio of 2.06. Sunoco LP has a fifty-two week low of $47.98 and a fifty-two week high of $65.24. The firm has a 50-day simple moving average of $59.77 and a 200 day simple moving average of $54.90. The company has a market cap of $13.32 billion, a PE ratio of 28.64 and a beta of 0.49.

Sunoco (NYSE:SUN) last issued its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $9.65 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s revenue was up 63.2% on a year-over-year basis. On average, sell-side analysts anticipate that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a dividend of $0.9317 per share. This represents a $3.73 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, February 6th. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. Sunoco’s payout ratio is currently 164.32%.

Sunoco Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.