BB&T Securities LLC Purchases 5,785 Shares of Sunoco LP (SUN)
BB&T Securities LLC boosted its stake in Sunoco LP (NYSE:SUN) by 17.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 39,085 shares of the oil and gas company’s stock after buying an additional 5,785 shares during the period. BB&T Securities LLC’s holdings in Sunoco were worth $1,196,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its position in Sunoco by 6.3% in the first quarter. SRS Capital Advisors Inc. now owns 7,123 shares of the oil and gas company’s stock valued at $172,000 after buying an additional 420 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV purchased a new position in Sunoco during the second quarter valued at $245,000. Cypress Asset Management Inc. TX boosted its position in Sunoco by 0.7% in the first quarter. Cypress Asset Management Inc. TX now owns 11,036 shares of the oil and gas company’s stock valued at $267,000 after buying an additional 74 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Sunoco during the second quarter valued at $278,000. Finally, Proficio Capital Partners LLC purchased a new position in Sunoco during the first quarter valued at $282,000. Hedge funds and other institutional investors own 27.43% of the company’s stock.
Sunoco LP (NYSE SUN) opened at 31.22 on Friday. Sunoco LP has a 12 month low of $21.01 and a 12 month high of $32.67. The company has a 50 day moving average price of $31.07 and a 200-day moving average price of $29.07. The company’s market cap is $3.11 billion.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were given a $0.8255 dividend. This represents a $3.30 annualized dividend and a dividend yield of 10.58%. The ex-dividend date was Thursday, August 3rd. Sunoco’s payout ratio is -37.37%.
Several research analysts have weighed in on the company. BidaskClub upgraded Sunoco from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Vetr upgraded Sunoco from a “hold” rating to a “buy” rating and set a $32.56 price objective on the stock in a research report on Thursday, June 1st. Mizuho cut Sunoco from a “neutral” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $32.00 price objective on shares of Sunoco in a research report on Tuesday, June 20th. Finally, UBS AG reiterated a “neutral” rating and set a $30.00 price objective (up previously from $28.00) on shares of Sunoco in a research report on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Sunoco presently has a consensus rating of “Hold” and a consensus target price of $30.97.
Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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