358,917 Shares in Sunoco LP (NYSE:SUN) Acquired by Bank of Montreal Can

Bank of Montreal Can purchased a new stake in Sunoco LP (NYSE:SUN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 358,917 shares of the oil and gas company’s stock, valued at approximately $10,986,000. Bank of Montreal Can owned about 0.31% of Sunoco at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Groesbeck Investment Management Corp NJ raised its stake in Sunoco by 22.4% in the first quarter. Groesbeck Investment Management Corp NJ now owns 15,211 shares of the oil and gas company’s stock worth $367,000 after buying an additional 2,788 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Sunoco by 34.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 173,936 shares of the oil and gas company’s stock worth $4,204,000 after buying an additional 45,039 shares during the last quarter. Wade G W & Inc. acquired a new stake in Sunoco during the first quarter worth about $302,000. Texas Yale Capital Corp. raised its stake in Sunoco by 42.3% in the first quarter. Texas Yale Capital Corp. now owns 21,850 shares of the oil and gas company’s stock worth $528,000 after buying an additional 6,500 shares during the last quarter. Finally, Wellington Shields Capital Management LLC raised its stake in Sunoco by 120.3% in the first quarter. Wellington Shields Capital Management LLC now owns 28,200 shares of the oil and gas company’s stock worth $682,000 after buying an additional 15,400 shares during the last quarter. 27.47% of the stock is owned by institutional investors and hedge funds.

Sunoco LP (NYSE SUN) opened at 31.02 on Friday. The stock’s 50 day moving average is $30.99 and its 200-day moving average is $28.91. Sunoco LP has a 12 month low of $21.01 and a 12 month high of $32.67. The stock’s market capitalization is $3.09 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th will be issued a $0.8255 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $3.30 annualized dividend and a dividend yield of 10.64%. Sunoco’s dividend payout ratio (DPR) is -37.37%.

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A number of equities research analysts have recently issued reports on the stock. Mizuho lowered shares of Sunoco from a “neutral” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Monday, July 10th. BidaskClub raised shares of Sunoco from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. TheStreet raised shares of Sunoco from a “d+” rating to a “c-” rating in a research report on Wednesday, April 26th. Deutsche Bank AG raised shares of Sunoco from a “hold” rating to a “buy” rating and boosted their price target for the company from $31.00 to $36.00 in a research report on Thursday, July 13th. Finally, Vetr raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $32.56 price target on the stock in a research report on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Sunoco currently has an average rating of “Hold” and a consensus price target of $31.04.

Sunoco Company Profile

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.

Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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