Sunoco LP (NYSE:SUN) Stake Increased by Tradition Wealth Management LLC

Tradition Wealth Management LLC lifted its holdings in Sunoco LP (NYSE:SUN) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,676 shares of the oil and gas company’s stock after acquiring an additional 554 shares during the quarter. Tradition Wealth Management LLC’s holdings in Sunoco were worth $519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SUN. Tyche Wealth Partners LLC grew its stake in shares of Sunoco by 5.4% in the 3rd 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 in the last quarter. Wedbush Securities Inc. raised its stake in Sunoco by 2.1% during the 2nd quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock valued at $597,000 after purchasing an additional 218 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Sunoco by 2.5% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 9,325 shares of the oil and gas company’s stock valued at $527,000 after buying an additional 228 shares during the last quarter. Quad Cities Investment Group LLC raised its holdings in Sunoco by 2.2% in the 2nd quarter. Quad Cities Investment Group LLC now owns 13,624 shares of the oil and gas company’s stock valued at $770,000 after acquiring an additional 288 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of Sunoco by 3.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 8,296 shares of the oil and gas company’s stock worth $469,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada increased their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

Sunoco Price Performance

Sunoco stock opened at $56.46 on Monday. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 12.98 and a beta of 1.31. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The business’s 50-day simple moving average is $52.91 and its 200 day simple moving average is $53.55.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) 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.