Greenland Capital Management LP Buys New Position in Sunoco LP (NYSE:SUN)

Greenland Capital Management LP purchased a new position in shares of Sunoco LP (NYSE:SUN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,230 shares of the oil and gas company’s stock, valued at approximately $526,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SUN. Sanctuary Advisors LLC increased its holdings in shares of Sunoco by 11.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock valued at $5,236,000 after acquiring an additional 10,080 shares during the period. Atria Wealth Solutions Inc. purchased a new position in Sunoco during the 4th quarter worth $256,000. JPMorgan Chase & Co. increased its stake in Sunoco by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after purchasing an additional 455,361 shares during the period. Virtu Financial LLC acquired a new stake in shares of Sunoco during the fourth quarter worth about $239,000. Finally, HighTower Advisors LLC grew its holdings in shares of Sunoco by 4.1% during the third quarter. HighTower Advisors LLC now owns 27,364 shares of the oil and gas company’s stock worth $1,467,000 after buying an additional 1,073 shares during the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Down 3.0 %

SUN opened at $50.50 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.67. The stock has a market capitalization of $7.71 billion, a P/E ratio of 7.65 and a beta of 1.06. The business has a 50 day simple moving average of $57.30 and a 200-day simple moving average of $54.56.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. On average, equities analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.8865 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 7.02%. This is an increase from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s payout ratio is currently 53.64%.

Analysts Set New Price Targets

A number of analysts have weighed in on SUN shares. Mizuho increased their price objective on Sunoco from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. Barclays decreased their price target on Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.83.

About Sunoco

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.