Kestra Advisory Services LLC Purchases 44,563 Shares of Sunoco LP $SUN

Kestra Advisory Services LLC raised its holdings in Sunoco LP (NYSE:SUN) by 250.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,358 shares of the oil and gas company’s stock after acquiring an additional 44,563 shares during the period. Kestra Advisory Services LLC’s holdings in Sunoco were worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Ancora Advisors LLC bought a new position in Sunoco during the 3rd quarter worth about $40,000. Glen Eagle Advisors LLC increased its position in shares of Sunoco by 496.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 710 shares during the last quarter. Cresta Advisors Ltd. acquired a new position in Sunoco during the fourth quarter worth $64,000. Russell Investments Group Ltd. increased its stake in shares of Sunoco by 110.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 823 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Sunoco during the fourth quarter worth approximately $95,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Up 1.7%

Sunoco stock opened at $72.19 on Friday. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 18.46 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $73.40. The firm has a 50 day moving average price of $67.46 and a two-hundred day moving average price of $63.71.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’s quarterly revenue was up 106.4% compared to the same quarter last year. Equities analysts predict that Sunoco LP will post 7.92 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a dividend of $0.9899 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, May 8th. Sunoco’s payout ratio is currently 101.28%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SUN shares. Wells Fargo & Company increased their price objective on shares of Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings raised Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Citigroup increased their price target on shares of Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 target price on shares of Sunoco in a research report on Wednesday, May 6th. Finally, Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Sunoco currently has an average rating of “Buy” and an average target price of $74.75.

About Sunoco

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.