Teamwork Financial Advisors LLC Acquires New Shares in Sunoco LP (NYSE:SUN)

Teamwork Financial Advisors LLC bought a new position in Sunoco LP (NYSE:SUN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,027 shares of the oil and gas company’s stock, valued at approximately $270,000.

Other hedge funds have also added to or reduced their stakes in the company. CNB Bank bought a new stake in Sunoco during the first quarter valued at $30,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Sunoco during the 2nd quarter valued at about $32,000. First Horizon Advisors Inc. purchased a new position in shares of Sunoco during the second quarter worth about $38,000. Redwood Wealth Management Group LLC bought a new position in shares of Sunoco in the second quarter worth approximately $46,000. Finally, Register Financial Advisors LLC bought a new position in shares of Sunoco in the first quarter worth approximately $55,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SUN. Royal Bank of Canada increased their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays reduced their price objective on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.25.

Sunoco Price Performance

SUN opened at $52.09 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $53.08 and its 200 day simple moving average is $54.19. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 6.89 and a beta of 1.30. Sunoco LP has a 1 year low of $49.00 and a 1 year high of $64.89.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating the consensus estimate of $1.23 by $2.62. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, analysts predict that Sunoco LP will post 8.09 earnings per share for the current year.

Sunoco Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.8756 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.50 annualized dividend and a dividend yield of 6.72%. Sunoco’s dividend payout ratio is 46.30%.

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.