ING Groep NV Invests $8.52 Million in Sunoco LP (NYSE:SUN)

ING Groep NV purchased a new stake in Sunoco LP (NYSE:SUN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 158,715 shares of the oil and gas company's stock, valued at approximately $8,520,000. ING Groep NV owned about 0.10% of Sunoco as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUN. Tortoise Capital Advisors L.L.C. lifted its holdings in Sunoco by 26,345.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company's stock valued at $76,406,000 after acquiring an additional 1,346,258 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Sunoco by 5,437.3% in the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company's stock valued at $30,747,000 after purchasing an additional 562,435 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Sunoco by 176.6% in the 2nd quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company's stock valued at $39,591,000 after purchasing an additional 447,072 shares during the period. Adams Asset Advisors LLC raised its position in shares of Sunoco by 82.3% in the second quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company's stock worth $32,315,000 after acquiring an additional 258,103 shares during the period. Finally, Energy Income Partners LLC acquired a new position in shares of Sunoco in the first quarter worth about $10,494,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sunoco Price Performance

Shares of NYSE SUN traded up $0.54 during mid-day trading on Friday, reaching $52.16. The company's stock had a trading volume of 330,121 shares, compared to its average volume of 517,009. The stock has a 50-day moving average of $52.69 and a two-hundred day moving average of $53.63. The stock has a market capitalization of $7.95 billion, a P/E ratio of 11.98 and a beta of 1.31. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.72 and a current ratio of 1.16. Sunoco LP has a 1-year low of $49.45 and a 1-year high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the company posted $2.95 EPS. The firm's revenue was down 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Friday, November 8th. Sunoco's dividend payout ratio (DPR) is presently 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.