Focus Financial Network Inc. Has $939,000 Holdings in Sunoco LP (NYSE:SUN)

Focus Financial Network Inc. increased its stake in Sunoco LP (NYSE:SUN) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,070 shares of the oil and gas company’s stock after purchasing an additional 887 shares during the period. Focus Financial Network Inc.’s holdings in Sunoco were worth $939,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SUN. International Assets Investment Management LLC boosted its stake in shares of Sunoco by 3.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock worth $574,000 after buying an additional 283 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of Sunoco in the fourth quarter valued at about $905,000. Fractal Investments LLC increased its position in shares of Sunoco by 1,110.0% in the fourth quarter. Fractal Investments LLC now owns 242,000 shares of the oil and gas company’s stock valued at $14,503,000 after acquiring an additional 222,000 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sunoco by 10.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock valued at $174,081,000 after acquiring an additional 275,875 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its position in shares of Sunoco by 4.2% in the first quarter. Miller Howard Investments Inc. NY now owns 437,171 shares of the oil and gas company’s stock valued at $26,357,000 after acquiring an additional 17,757 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Performance

Shares of Sunoco stock traded down $0.76 on Tuesday, hitting $52.58. The stock had a trading volume of 455,209 shares, compared to its average volume of 583,628. Sunoco LP has a twelve month low of $44.05 and a twelve month high of $64.89. The business’s 50 day moving average is $54.94 and its two-hundred day moving average is $56.64. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 11.72 and a beta of 1.31.

Sunoco (NYSE:SUN) last posted its earnings results 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. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts forecast that Sunoco LP will post 7.01 EPS for the current year.

Sunoco Cuts Dividend

The company 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. This represents a $3.50 annualized dividend and a dividend yield of 6.66%. The ex-dividend date was Friday, August 9th. Sunoco’s payout ratio is 77.95%.

Insider Activity

In related news, CEO Joseph Kim purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $50.50 per share, for a total transaction of $252,500.00. Following the completion of the purchase, the chief executive officer now owns 10,000 shares in the company, valued at approximately $505,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Brian A. Hand purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $49.59 per share, for a total transaction of $99,180.00. Following the completion of the purchase, the executive vice president now owns 153,255 shares in the company, valued at approximately $7,599,915.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Kim purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $50.50 per share, with a total value of $252,500.00. Following the completion of the purchase, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $505,000. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 8,000 shares of company stock valued at $401,420.

Analyst Ratings Changes

A number of research firms recently issued reports on SUN. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. began coverage on Sunoco in a research report on Wednesday, June 5th. They issued an “overweight” rating and a $61.00 target price on the stock. Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $60.00 to $59.00 in a research report on Tuesday, June 4th. Stifel Nicolaus raised Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Friday, June 7th. Finally, Citigroup raised Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.86.

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.