158,715 Shares in Sunoco LP (NYSE:SUN) Acquired by ING Groep NV

ING Groep NV acquired a new stake in shares of Sunoco LP (NYSE:SUN) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 158,715 shares of the oil and gas company’s stock, valued at approximately $8,520,000. ING Groep NV owned approximately 0.10% of Sunoco at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new stake in Sunoco in the second quarter worth $32,000. First Horizon Advisors Inc. bought a new position in shares of Sunoco in the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC purchased a new position in Sunoco in the second quarter worth about $46,000. HHM Wealth Advisors LLC bought a new stake in Sunoco during the second quarter worth approximately $93,000. Finally, Kingsview Wealth Management LLC purchased a new stake in Sunoco during the first quarter valued at approximately $201,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of SUN opened at $52.10 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.72 and a current ratio of 1.16. The company has a 50 day moving average price of $52.69 and a 200-day moving average price of $53.63. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89. The stock has a market capitalization of $7.94 billion, a PE ratio of 11.98 and a beta of 1.31.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter in the prior year, the company earned $2.95 EPS. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts predict that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.72%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s payout ratio is 80.46%.

Analyst Ratings Changes

A number of research firms recently weighed in on SUN. StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Sunoco Company 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.