Goldman Sachs Group Inc. Has $174.08 Million Stock Position in Sunoco LP (NYSE:SUN)

Goldman Sachs Group Inc. increased its stake in Sunoco LP (NYSE:SUN) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,904,735 shares of the oil and gas company’s stock after acquiring an additional 275,875 shares during the quarter. Goldman Sachs Group Inc. owned about 2.88% of Sunoco worth $174,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in Sunoco in the fourth quarter worth approximately $27,000. Allworth Financial LP increased its holdings in Sunoco by 250.0% in the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 500 shares in the last quarter. Retirement Solution Inc. bought a new stake in Sunoco in the fourth quarter worth approximately $200,000. CWA Asset Management Group LLC bought a new stake in Sunoco in the third quarter worth approximately $201,000. Finally, Alpha Cubed Investments LLC bought a new stake in Sunoco in the fourth quarter worth approximately $207,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sunoco news, EVP Brian A. Hand acquired 2,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $49.59 per share, with a total value of $99,180.00. Following the completion of the transaction, the executive vice president now owns 153,255 shares in the company, valued at $7,599,915.45. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Joseph Kim purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of $50.50 per share, with a total value of $252,500.00. Following the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $505,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian A. Hand purchased 2,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $49.59 per share, for a total transaction of $99,180.00. Following the transaction, the executive vice president now directly owns 153,255 shares in the company, valued at $7,599,915.45. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 9,500 shares of company stock valued at $479,570.

Sunoco Stock Up 0.5 %

Sunoco stock traded up $0.25 during trading on Friday, hitting $51.98. 583,008 shares of the company were exchanged, compared to its average volume of 688,099. The business’s 50 day moving average is $53.68 and its 200 day moving average is $57.43. Sunoco LP has a 52 week low of $43.00 and a 52 week high of $64.89. The company has a market capitalization of $5.24 billion, a P/E ratio of 11.58 and a beta of 1.29. The company has a current ratio of 1.65, a quick ratio of 1.07 and a debt-to-equity ratio of 3.39.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.13 billion. Analysts predict that Sunoco LP will post 6.09 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a $0.876 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.50 annualized dividend and a yield of 6.74%. This is a boost from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s payout ratio is currently 77.95%.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of research analyst reports. Stifel Nicolaus upgraded Sunoco from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Friday, June 7th. Citigroup downgraded Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Tuesday, February 27th. Barclays began coverage on Sunoco in a report on Monday, June 10th. They set an “overweight” rating and a $61.00 price objective for the company. Mizuho upgraded Sunoco from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $60.00 to $59.00 in a report on Tuesday, June 4th. Finally, StockNews.com upgraded Sunoco from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Sunoco presently has an average rating of “Moderate Buy” and an average target price of $62.00.

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.