PNC Financial Services Group Inc. Purchases 456 Shares of Sunoco LP (NYSE:SUN)

PNC Financial Services Group Inc. raised its holdings in shares of Sunoco LP (NYSE:SUN) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,526 shares of the oil and gas company’s stock after acquiring an additional 456 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sunoco were worth $1,692,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. ING Groep NV purchased a new stake in shares of Sunoco during the 3rd quarter valued at approximately $8,520,000. Avid Wealth Partners LLC purchased a new stake in shares of Sunoco during the third quarter worth $850,000. CWA Asset Management Group LLC bought a new position in shares of Sunoco in the third quarter worth $221,000. Crescent Grove Advisors LLC boosted its holdings in shares of Sunoco by 128.9% in the third quarter. Crescent Grove Advisors LLC now owns 21,886 shares of the oil and gas company’s stock worth $1,175,000 after acquiring an additional 12,326 shares during the period. Finally, Tyche Wealth Partners LLC raised its stake in shares of Sunoco by 5.4% during the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 200 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SUN has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their target price on Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunoco has an average rating of “Moderate Buy” and an average target price of $62.25.

Sunoco Price Performance

SUN stock opened at $54.18 on Wednesday. The firm has a 50 day simple moving average of $52.80 and a two-hundred day simple moving average of $53.52. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The stock has a market cap of $8.26 billion, a PE ratio of 12.39 and a beta of 1.31. Sunoco LP has a one year low of $49.45 and a one year high of $64.89.

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

Sunoco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.8756 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a yield of 6.46%. Sunoco’s payout ratio is 80.46%.

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.