ClearBridge Investments LLC recently announced the acquisition of new stake in Sunoco LP (NYSE:SUN). The institutional investor has increased its shareholding in the Energy company by 50.59% to 0.76 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 0.92% valued currently at $19.59 million. In addition, Bridgecreek Investment Management… raised its holdings by 0.15 million to 0.32 million shares. And Adams Asset Advisors LLC has lifted its position by 2.03% or 5919.0 shares – to 0.3 million shares.
With over 0.35 million Sunoco LP (SUN) shares trading Monday and a closing price of $23.47 on the day, the dollar volume was approximately $8.26 million. The shares have shown a negative weekly performance of -3.53% and its price on 07/06/20 gained nearly 0.86%. Currently, there are 83.01M common shares owned by the public and among those 54.20M shares have been available to trade.
Incidentally, analysts’ outlook for the Sunoco LP stock is 2.20 for the next 12 months. The average price target is 9.38% above its last price level .
Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 274,955 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 40,092 shares.
The top 3 mutual fund holders in Sunoco LP are Invesco Oppenheimer SteelPath MLP, Invesco Oppenheimer SteelPath MLP, and Goldman Sachs MLP Energy Infrastr. Invesco Oppenheimer SteelPath MLP owns 9.36 million shares of the company’s stock, all valued at over $241.53 million. The company has a total holdings of about 11.28% of the shares outstanding. Invesco Oppenheimer SteelPath MLP has total holdings of 4.86 million shares valued at over $125.34 million and representing 5.85% of the shares outstanding. Goldman Sachs MLP Energy Infrastr sold -0.11 million shares to bring its total holdings to over 0.46 million shares at a value of $11.93 million. Goldman Sachs MLP Energy Infrastr now owns shares totaling to 0.56% of the shares outstanding.
Shares of Sunoco LP (NYSE: SUN) opened at $23.46, up $0.19 from a prior closing price of $23.27. However, the script later closed the day at $23.47, up 0.86%. The company’s stock has a 5-day price change of -3.53% and 59.44% over the past three months. SUN shares are trading -23.30% year to date (YTD), with the 12-month market performance down to -27.56% lower. It has a 12-month low price of $10.46 and touched a high of $34.09 over the same period. Currently, 0.35 million shares have been traded, compared to an average intraday trading volume of 759.89K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.30%, -5.46%, and -14.27% respectively.
Institutional ownership of Sunoco LP (NYSE: SUN) shares accounts for 50.90% of the company’s 83.01M shares outstanding. Mutual fund holders own 21.64%, while other institutional holders and individual stakeholders account for 6.69% and 0.95% respectively.
It has a market capitalization of $1.95B and a beta (3y monthly) value of 1.81. The stock’s earnings-per-share (ttm) stands at -$0.04. The company has a Quick Ratio of 0.70 with the debt-to-equity ratio at 5.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.44% over the week and 4.26% over the month.
Earnings per share for the fiscal year are expected to decrease by -87.20%, and 770.00% over the next financial year. EPS should shrink at an annualized rate of -6.74% over the next five years, compared to 12.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Sunoco LP (SUN) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 4 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SUN, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on April 21, 2020, with the firm’s price target at $26. Jefferies coverage for the Sunoco LP (SUN) stock in a research note released on April 14, 2020 offered a Buy rating with a price target of $25. Barclays was of a view on March 24, 2020 that the stock is Overweight, while Mizuho gave the stock Buy rating on October 29, 2019 . Stifel on their part issued Hold rating on July 19, 2019.