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

Newbridge Financial Services Group Inc. boosted its stake in Sunoco LP (NYSE:SUN) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SUN. Independence Bank of Kentucky purchased a new position in Sunoco during the fourth quarter valued at approximately $53,000. Kieckhefer Group LLC purchased a new position in shares of Sunoco during the 4th quarter valued at $129,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sunoco in the third quarter worth $165,000. World Investment Advisors LLC raised its position in shares of Sunoco by 5.6% in the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after buying an additional 200 shares in the last quarter. Finally, Tyche Wealth Partners LLC boosted its stake in Sunoco by 5.4% during the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SUN shares. Royal Bank of Canada raised their price target on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Mizuho raised their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Barclays lifted their target price on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and an average target price of $63.43.

Sunoco Trading Down 2.7 %

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

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a $0.8865 dividend. The ex-dividend date is Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a yield of 6.30%. Sunoco’s payout ratio is currently 80.46%.

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.