Strategic Financial Concepts LLC Acquires Shares of 65,616 Sunoco LP (NYSE:SUN)

Strategic Financial Concepts LLC acquired a new position in shares of Sunoco LP (NYSE:SUN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 65,616 shares of the oil and gas company’s stock, valued at approximately $3,375,000.

Other large investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its stake in Sunoco by 1.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 190 shares during the last quarter. Stifel Financial Corp lifted its holdings in Sunoco by 0.8% during the 3rd quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock worth $1,355,000 after buying an additional 194 shares in the last quarter. Tyche Wealth Partners LLC boosted its holdings in Sunoco by 5.4% in the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 200 shares during the period. World Investment Advisors LLC grew its position in shares of Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after buying an additional 200 shares in the last quarter. Finally, IHT Wealth Management LLC increased its position in shares of Sunoco by 2.6% in the 3rd quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock valued at $517,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SUN shares. Barclays boosted their target price on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Mizuho upped their price target on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.43.

Sunoco Price Performance

Shares of NYSE SUN opened at $57.15 on Monday. The business has a 50 day simple moving average of $54.06 and a 200-day simple moving average of $53.45. Sunoco LP has a twelve month low of $49.45 and a twelve month high of $64.89. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 13.14 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. As a group, equities research analysts expect that Sunoco LP will post 9.63 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a $0.8865 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a yield of 6.20%. Sunoco’s payout ratio is 80.46%.

Sunoco 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.