Envestnet Asset Management Inc. Purchases 1,845 Shares of Sunoco LP (NYSE:SUN)

Envestnet Asset Management Inc. increased its position in shares of Sunoco LP (NYSE:SUN) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,603 shares of the oil and gas company’s stock after acquiring an additional 1,845 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sunoco were worth $1,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SUN. Raymond James Financial Inc. bought a new position in Sunoco during the 4th quarter worth approximately $17,739,000. CIBC Private Wealth Group LLC lifted its stake in Sunoco by 32,166.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company’s stock valued at $12,137,000 after buying an additional 230,634 shares in the last quarter. Invesco Ltd. lifted its stake in Sunoco by 2.3% in the fourth quarter. Invesco Ltd. now owns 8,868,926 shares of the oil and gas company’s stock valued at $456,218,000 after buying an additional 198,859 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Sunoco by 63.5% in the fourth quarter. Neuberger Berman Group LLC now owns 497,891 shares of the oil and gas company’s stock valued at $25,611,000 after buying an additional 193,278 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sunoco by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company’s stock valued at $134,192,000 after buying an additional 128,042 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of SUN stock opened at $55.03 on Wednesday. The company’s fifty day simple moving average is $53.61 and its 200-day simple moving average is $55.60. The company has a quick ratio of 0.86, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The firm has a market cap of $8.41 billion, a PE ratio of 9.92 and a beta of 0.61. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.58 billion. Sunoco had a return on equity of 20.34% and a net margin of 3.80%. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 EPS. Equities research analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a $0.9088 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date is Friday, August 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.90. Sunoco’s payout ratio is currently 65.41%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SUN. Mizuho cut their price target on shares of Sunoco from $68.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Sunoco from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Sunoco presently has an average rating of “Moderate Buy” and a consensus price target of $64.75.

Sunoco 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.