Sunoco LP $SUN Shares Purchased by Alps Advisors Inc.

Alps Advisors Inc. raised its stake in Sunoco LP (NYSE:SUN) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,089,484 shares of the oil and gas company’s stock after purchasing an additional 599,655 shares during the quarter. Sunoco comprises about 6.7% of Alps Advisors Inc.’s investment portfolio, making the stock its 6th biggest position. Alps Advisors Inc. owned 0.16% of Sunoco worth $1,204,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. ELCO Management Co. LLC grew its stake in shares of Sunoco by 6.3% in the third quarter. ELCO Management Co. LLC now owns 27,830 shares of the oil and gas company’s stock valued at $1,392,000 after buying an additional 1,645 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Sunoco by 11.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 34,834 shares of the oil and gas company’s stock worth $1,742,000 after acquiring an additional 3,568 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Sunoco by 23.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,383 shares of the oil and gas company’s stock worth $373,000 after acquiring an additional 1,392 shares during the period. Lee Financial Co boosted its holdings in Sunoco by 573.1% in the 3rd quarter. Lee Financial Co now owns 25,705 shares of the oil and gas company’s stock worth $1,286,000 after acquiring an additional 21,886 shares during the period. Finally, Truist Financial Corp acquired a new stake in Sunoco in the third quarter valued at approximately $1,161,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of SUN stock opened at $57.72 on Friday. The firm has a fifty day moving average of $55.13 and a two-hundred day moving average of $53.18. The firm has a market cap of $11.81 billion, a P/E ratio of 19.70 and a beta of 0.51. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $59.88. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.90). The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.59 billion. Sunoco had a net margin of 2.61% and a return on equity of 13.94%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) EPS. As a group, research analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.9317 per share. The ex-dividend date is Friday, February 6th. This is an increase from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 annualized dividend and a yield of 6.5%. Sunoco’s payout ratio is currently 125.60%.

Analyst Ratings Changes

A number of research firms have recently commented on SUN. Wall Street Zen raised shares of Sunoco from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Wells Fargo & Company set a $65.00 price target on shares of Sunoco and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Raymond James Financial raised shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective for the company in a research report on Monday, January 5th. Weiss Ratings upgraded Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Zacks Research cut Sunoco from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $65.60.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company?owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on?road diesel treated to meet ultra?low sulfur requirements.