Venturi Wealth Management LLC Grows Position in Sunoco LP (NYSE:SUN)

Venturi Wealth Management LLC lifted its stake in Sunoco LP (NYSE:SUN) by 6,891.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,517 shares of the oil and gas company’s stock after buying an additional 2,481 shares during the quarter. Venturi Wealth Management LLC’s holdings in Sunoco were worth $129,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Sanctuary Advisors LLC lifted its holdings in shares of Sunoco by 18.7% in the fourth quarter. Sanctuary Advisors LLC now owns 114,352 shares of the oil and gas company’s stock worth $5,882,000 after buying an additional 17,975 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Sunoco in the fourth quarter worth $408,000. Allworth Financial LP lifted its holdings in shares of Sunoco by 90.6% in the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock worth $95,000 after buying an additional 819 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Sunoco in the fourth quarter worth $3,375,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Sunoco by 41.1% in the fourth quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company’s stock worth $1,550,000 after buying an additional 8,782 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SUN. Royal Bank of Canada boosted their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays boosted their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Mizuho boosted their price target on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.83.

Sunoco Trading Up 0.2 %

SUN stock opened at $58.04 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. Sunoco LP has a twelve month low of $49.45 and a twelve month high of $64.89. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 8.79 and a beta of 1.36. The firm’s fifty day simple moving average is $54.48 and its two-hundred day simple moving average is $53.59.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. As a group, analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.8865 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.11%. Sunoco’s payout ratio is 53.64%.

About Sunoco

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.