Custom Index Systems LLC Has $1.48 Million Stake in Sunoco LP (NYSE:SUN)

Custom Index Systems LLC increased its position in Sunoco LP (NYSE:SUN) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,100 shares of the oil and gas company’s stock after purchasing an additional 1,593 shares during the quarter. Sunoco makes up 0.8% of Custom Index Systems LLC’s portfolio, making the stock its 29th largest holding. Custom Index Systems LLC’s holdings in Sunoco were worth $1,476,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SUN. Strategic Financial Concepts LLC acquired a new stake in Sunoco during the second quarter valued at approximately $3,856,000. Oxbow Advisors LLC acquired a new stake in Sunoco in the 2nd quarter valued at $462,000. Tortoise Capital Advisors L.L.C. grew its position in Sunoco by 26,345.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company’s stock valued at $76,406,000 after acquiring an additional 1,346,258 shares during the period. Private Advisor Group LLC raised its stake in 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 worth $2,944,000 after acquiring an additional 15,087 shares in the last quarter. Finally, Crumly & Associates Inc. bought a new position in shares of Sunoco during the second quarter valued at $280,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SUN. Stifel Nicolaus upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Friday, June 7th. Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $60.00 to $59.00 in a report on Tuesday, June 4th. Citigroup raised Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays reduced their price objective on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.14.

Sunoco Stock Down 1.1 %

Shares of SUN opened at $51.87 on Friday. The business’s fifty day moving average price is $54.55 and its two-hundred day moving average price is $55.91. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 11.55 and a beta of 1.30. Sunoco LP has a 52 week low of $44.26 and a 52 week high of $64.89. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.72 and a current ratio of 1.26.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $2.62. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $5.63 billion. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, analysts predict that Sunoco LP will post 7.01 earnings per share for the current year.

Sunoco Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.8756 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.50 annualized dividend and a dividend yield of 6.75%. Sunoco’s dividend payout ratio is currently 77.95%.

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.