Crescent Grove Advisors LLC Makes New Investment in Sunoco LP $SUN

Crescent Grove Advisors LLC purchased a new stake in Sunoco LP (NYSE:SUN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,869 shares of the oil and gas company’s stock, valued at approximately $1,746,000.

Several other large investors have also modified their holdings of the business. Diversified Trust Co raised its position in shares of Sunoco by 3.0% during the 1st quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company’s stock worth $379,000 after purchasing an additional 168 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Sunoco by 2.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after buying an additional 205 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Sunoco by 2.1% during 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 buying an additional 212 shares during the last quarter. Glenmede Investment Management LP increased its position in 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 buying an additional 288 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in 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 buying an additional 296 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Trading Up 2.7%

Shares of SUN opened at $74.05 on Friday. Sunoco LP has a twelve month low of $47.98 and a twelve month high of $74.29. The firm has a market capitalization of $15.17 billion, a P/E ratio of 18.94 and a beta of 0.42. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 2.03. The stock’s fifty day simple moving average is $67.60 and its 200 day simple moving average is $63.78.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.71 by $1.14. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm’s revenue was up 106.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. On average, equities research analysts forecast that Sunoco LP will post 7.92 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $0.9899 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Friday, May 8th. This is an increase from Sunoco’s previous quarterly dividend of $0.93. Sunoco’s dividend payout ratio (DPR) is presently 101.28%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SUN shares. Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Mizuho boosted their target price on shares of Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Citigroup upped their target price on shares of Sunoco from $65.00 to $73.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays raised their price target on shares of Sunoco from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Royal Bank Of Canada lifted their price target on shares of Sunoco to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $74.75.

Sunoco Company 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.