Citizens Financial Group Inc. RI Makes New Investment in Sunoco LP (NYSE:SUN)

Citizens Financial Group Inc. RI bought a new position in Sunoco LP (NYSE:SUN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,564 shares of the oil and gas company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC purchased a new position in Sunoco during the second quarter worth about $32,000. First Horizon Advisors Inc. bought a new position in shares of Sunoco in the second quarter valued at approximately $38,000. Redwood Wealth Management Group LLC bought a new position in shares of Sunoco in the second quarter valued at approximately $46,000. HHM Wealth Advisors LLC purchased a new stake in shares of Sunoco during the second quarter valued at approximately $93,000. Finally, Wealth Alliance Advisory Group LLC bought a new stake in Sunoco during the second quarter worth $207,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

NYSE SUN opened at $54.33 on Friday. The company’s 50 day simple moving average is $52.81 and its two-hundred day simple moving average is $53.55. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89. The stock has a market capitalization of $8.28 billion, a PE ratio of 12.49 and a beta of 1.31.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. During the same quarter last year, the business posted $2.95 EPS. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Analysts predict that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.45%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.25.

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.