Sunoco LP (NYSE:SUN) Shares Purchased by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC raised its position in shares of Sunoco LP (NYSE:SUN) by 3.1% in the third quarter, HoldingsChannel reports. The firm owned 1,087,407 shares of the oil and gas company’s stock after acquiring an additional 32,239 shares during the period. Sunoco makes up 7.9% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Infrastructure Capital Advisors LLC’s holdings in Sunoco were worth $58,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Sunoco by 5,437.3% in the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after acquiring an additional 562,435 shares during the period. Private Advisor Group LLC raised its holdings in shares of Sunoco by 40.8% during the second quarter. Private Advisor Group LLC now owns 52,064 shares of the oil and gas company’s stock valued at $2,944,000 after acquiring an additional 15,087 shares during the period. Gateway Advisory LLC acquired a new stake in shares of Sunoco during the second quarter valued at approximately $1,222,000. XTX Topco Ltd acquired a new stake in shares of Sunoco during the second quarter valued at approximately $889,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Sunoco by 42.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 276,829 shares of the oil and gas company’s stock valued at $15,652,000 after acquiring an additional 83,008 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Performance

Shares of SUN opened at $54.63 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The company has a market capitalization of $8.33 billion, a PE ratio of 12.56 and a beta of 1.31. Sunoco LP has a 52 week low of $49.45 and a 52 week high of $64.89. The company’s 50 day moving average price is $52.82 and its 200 day moving average price is $53.52.

Sunoco (NYSE:SUN) last posted its 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). The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The business’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 earnings per share. Research analysts expect that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.8756 dividend. This represents a $3.50 annualized dividend and a yield of 6.41%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio is 80.46%.

Analyst Ratings Changes

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

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.