Sunoco LP (NYSE:SUN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,191,570 shares of the oil and gas company's stock after acquiring an additional 455,361 shares during the quarter. JPMorgan Chase & Co. owned about 1.44% of Sunoco worth $117,644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco during the second quarter worth about $32,000. Redwood Wealth Management Group LLC acquired a new position in Sunoco during the second quarter worth approximately $46,000. HHM Wealth Advisors LLC purchased a new stake in Sunoco in the second quarter valued at approximately $93,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunoco in the third quarter valued at approximately $165,000. Finally, World Investment Advisors LLC grew its position in shares of Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company's stock worth $204,000 after acquiring an additional 200 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target 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. Royal Bank of Canada increased their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Finally, Barclays boosted their price target on Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.75.

Sunoco Price Performance

Shares of NYSE SUN traded up $0.33 during trading on Thursday, hitting $51.77. 375,452 shares of the company were exchanged, compared to its average volume of 506,727. 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 firm's fifty day moving average price is $52.86 and its 200 day moving average price is $53.70. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 11.90 and a beta of 1.33.

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

Sunoco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.77%. The ex-dividend date was Friday, November 8th. Sunoco's payout ratio is 80.46%.

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.