Moors & Cabot Inc. Purchases 600 Shares of Sunoco LP (NYSE:SUN)

Moors & Cabot Inc. boosted its holdings in Sunoco LP (NYSE:SUN) by 4.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,224 shares of the oil and gas company’s stock after buying an additional 600 shares during the period. Moors & Cabot Inc.’s holdings in Sunoco were worth $732,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SUN. ING Groep NV bought a new position in shares of Sunoco during the third quarter valued at $8,520,000. PNC Financial Services Group Inc. raised its position in Sunoco by 1.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 31,526 shares of the oil and gas company’s stock worth $1,692,000 after purchasing an additional 456 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in Sunoco during the 3rd quarter worth about $245,000. Kingsview Wealth Management LLC grew its position in shares of Sunoco by 18.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 9,213 shares of the oil and gas company’s stock valued at $495,000 after buying an additional 1,434 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in shares of Sunoco in the third quarter valued at about $268,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Performance

Shares of SUN stock opened at $57.78 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. Sunoco LP has a 52 week low of $49.45 and a 52 week high of $62.55. The firm has a 50 day moving average of $56.24 and a 200-day moving average of $54.11. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 8.75 and a beta of 1.35.

Sunoco (NYSE:SUN) last posted its quarterly 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 return on equity of 22.52% and a net margin of 3.85%. On average, equities analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.8865 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend was Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is currently 53.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SUN shares. Barclays lifted their price objective on Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada boosted their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Mizuho increased their price objective on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

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.