Newbridge Financial Services Group Inc. Acquires 247 Shares of Sunoco LP (NYSE:SUN)

Newbridge Financial Services Group Inc. boosted its stake in Sunoco LP (NYSE:SUN) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,256 shares of the oil and gas company’s stock after purchasing an additional 247 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Sunoco were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SUN. Sanctuary Advisors LLC boosted its stake in shares of Sunoco by 11.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock valued at $5,236,000 after purchasing an additional 10,080 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Sunoco by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after acquiring an additional 455,361 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Sunoco by 5,437.3% during the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after acquiring an additional 562,435 shares during the period. Avid Wealth Partners LLC bought a new position in shares of Sunoco in the 3rd quarter worth approximately $850,000. Finally, FORA Capital LLC purchased a new position in shares of Sunoco in the 3rd quarter valued at approximately $524,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SUN has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays upped their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Mizuho boosted their price objective on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.43.

Sunoco Stock Performance

Shares of SUN stock opened at $56.31 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 12.94 and a beta of 1.36. Sunoco LP has a one year low of $49.45 and a one year high of $64.89. The company’s 50-day moving average is $53.91 and its 200 day moving average is $53.37.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.8865 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.55 annualized dividend and a dividend yield of 6.30%. This is an increase from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio (DPR) is 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.