Annis Gardner Whiting Capital Advisors LLC Buys 56,000 Shares of Sunoco LP $SUN

Annis Gardner Whiting Capital Advisors LLC raised its stake in Sunoco LP (NYSE:SUN) by 7,000.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,800 shares of the oil and gas company’s stock after purchasing an additional 56,000 shares during the period. Sunoco accounts for approximately 0.6% of Annis Gardner Whiting Capital Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Annis Gardner Whiting Capital Advisors LLC’s holdings in Sunoco were worth $3,690,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SUN. Royal Bank of Canada lifted its position in shares of Sunoco by 6.4% during the 1st quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company’s stock valued at $9,239,000 after acquiring an additional 9,592 shares during the period. Brown Advisory Inc. raised its stake in Sunoco by 10.9% in the second quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 1,201 shares in the last quarter. NewEdge Advisors LLC raised its stake in Sunoco by 226.2% in the second quarter. NewEdge Advisors LLC now owns 7,088 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 4,915 shares in the last quarter. Raymond James Financial Inc. lifted its position in Sunoco by 5.5% during the second quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company’s stock worth $19,611,000 after purchasing an additional 18,990 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Sunoco by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company’s stock worth $1,996,000 after purchasing an additional 2,810 shares during the period. 24.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SUN has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Sunoco from $65.00 to $73.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Zacks Research upgraded shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Wall Street Zen raised shares of Sunoco from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $80.00 price objective on shares of Sunoco in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Sunoco currently has an average rating of “Buy” and an average price target of $74.75.

Sunoco Stock Up 2.7%

Shares of NYSE:SUN opened at $74.05 on Friday. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $74.29. The company has a market capitalization of $15.17 billion, a PE ratio of 18.94 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40. The company has a fifty day moving average of $67.60 and a 200-day moving average of $63.78.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $1.14. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.Sunoco’s revenue for the quarter was up 106.4% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. On average, equities analysts predict that Sunoco LP will post 7.92 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.9899 dividend. This is a boost from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, May 8th. Sunoco’s dividend payout ratio is 101.28%.

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.