Bank of Montreal Can Buys Shares of 358,917 Sunoco LP (NYSE:SUN)

Bank of Montreal Can acquired a new position in shares of Sunoco LP (NYSE:SUN) during the second quarter, according to its most recent filing with the SEC. The firm acquired 358,917 shares of the oil and gas company’s stock, valued at approximately $10,986,000. Bank of Montreal Can owned approximately 0.31% of Sunoco as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position in shares of 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 worth $172,000 after buying an additional 420 shares during the period. Baldwin Brothers Inc. MA boosted its position in shares of Sunoco by 25.0% in the first quarter. Baldwin Brothers Inc. MA now owns 7,500 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,500 shares during the period. Cypress Asset Management Inc. TX boosted its position in shares of 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 worth $267,000 after buying an additional 74 shares during the period. Atria Investments LLC boosted its position in shares of Sunoco by 2.1% in the first quarter. Atria Investments LLC now owns 11,393 shares of the oil and gas company’s stock worth $275,000 after buying an additional 233 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Sunoco during the first quarter worth $282,000. Hedge funds and other institutional investors own 27.43% of the company’s stock.

Shares of Sunoco LP (NYSE:SUN) traded down 0.16% during mid-day trading on Friday, hitting $30.44. 312,303 shares of the stock traded hands. Sunoco LP has a one year low of $21.01 and a one year high of $32.67. The stock’s market cap is $3.03 billion. The stock has a 50-day moving average of $31.02 and a 200 day moving average of $29.00.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th were paid a dividend of $0.8255 per share. This represents a $3.30 annualized dividend and a dividend yield of 10.85%. The ex-dividend date of this dividend was Thursday, August 3rd. Sunoco’s dividend payout ratio (DPR) is currently -37.37%.

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A number of research analysts recently weighed in on SUN shares. Deutsche Bank AG upgraded shares of Sunoco from a “hold” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $36.00 in a report on Thursday, July 13th. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 price objective on shares of Sunoco in a report on Tuesday, June 20th. Vetr upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $32.56 price target for the company in a research note on Thursday, June 1st. TheStreet upgraded shares of Sunoco from a “d+” rating to a “c-” rating in a research note on Wednesday, April 26th. Finally, BidaskClub upgraded shares of Sunoco from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.97.

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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