Bank of Montreal Can acquired a new position in shares of Sunoco LP (NYSE:SUN) during the second quarter, Holdings Channel reports. The institutional investor acquired 519,000 shares of the company’s stock, valued at approximately $15,544,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wexford Capital LP increased its position in shares of Sunoco by 13.1% in the first quarter. Wexford Capital LP now owns 447,424 shares of the company’s stock worth $14,823,000 after buying an additional 51,822 shares in the last quarter. Creative Planning increased its position in shares of Sunoco by 147.1% in the second quarter. Creative Planning now owns 4,300 shares of the company’s stock worth $129,000 after buying an additional 2,560 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Sunoco during the first quarter worth about $518,000. Commonwealth Equity Services Inc acquired a new position in shares of Sunoco during the first quarter worth about $393,000. Finally, Invictus RG acquired a new position in shares of Sunoco during the first quarter worth about $254,000. 41.97% of the stock is currently owned by institutional investors.
Shares of Sunoco LP (NYSE:SUN) traded down 0.58% during mid-day trading on Friday, hitting $29.01. The company had a trading volume of 686,872 shares. The firm has a market capitalization of $3.24 billion, a PE ratio of 24.36 and a beta of 0.66. The firm has a 50-day moving average price of $30.08 and a 200-day moving average price of $31.53. Sunoco LP has a 52 week low of $22.86 and a 52 week high of $40.06.
SUN has been the topic of a number of recent analyst reports. Vetr raised Sunoco from a “hold” rating to a “buy” rating and set a $31.33 price objective on the stock in a research note on Monday, September 12th. Citigroup Inc. began coverage on Sunoco in a research report on Friday, September 23rd. They issued a “neutral” rating and a $30.00 target price for the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $43.00 target price on shares of Sunoco in a research report on Tuesday, June 28th. Barclays PLC reaffirmed an “equal weight” rating and issued a $32.00 target price on shares of Sunoco in a research report on Thursday, July 7th. Finally, Morgan Stanley began coverage on Sunoco in a research report on Monday, August 15th. They issued an “equal weight” rating and a $32.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.76.
Sunoco Company Profile
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the 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.
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