Linscomb Wealth Inc. Takes Position in Sunoco LP (NYSE:SUN)

Linscomb Wealth Inc. acquired a new position in shares of Sunoco LP (NYSE:SUN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,740 shares of the oil and gas company’s stock, valued at approximately $833,000.

A number of other institutional investors have also recently bought and sold shares of SUN. International Assets Investment Management LLC increased its position in Sunoco by 3.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock worth $574,000 after purchasing an additional 283 shares during the last quarter. Principal Securities Inc. acquired a new position in Sunoco in the fourth quarter worth approximately $27,000. Avantax Advisory Services Inc. increased its holdings in Sunoco by 6.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,450 shares of the oil and gas company’s stock worth $506,000 after buying an additional 536 shares during the last quarter. UBS Group AG raised its position in Sunoco by 68.3% during the fourth quarter. UBS Group AG now owns 540,949 shares of the oil and gas company’s stock valued at $32,419,000 after acquiring an additional 219,482 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Sunoco by 37.1% in the fourth quarter. Wells Fargo & Company MN now owns 355,677 shares of the oil and gas company’s stock valued at $21,316,000 after acquiring an additional 96,245 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SUN shares. Barclays cut their price target on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Citigroup upgraded Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, June 18th. Finally, Stifel Nicolaus raised 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Sunoco presently has a consensus rating of “Moderate Buy” and an average price target of $62.14.

Sunoco Price Performance

Shares of NYSE:SUN opened at $52.08 on Thursday. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 11.60 and a beta of 1.30. The business has a 50 day moving average price of $54.32 and a 200 day moving average price of $55.70. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. Sunoco LP has a twelve month low of $44.55 and a twelve month high of $64.89.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $1.23 by $2.62. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same period in the prior year, the business earned $0.78 earnings per share. Sunoco’s revenue for the quarter was up 7.5% compared to the same quarter last year. Research analysts predict that Sunoco LP will post 8.09 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. Shareholders 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 yield of 6.73%. Sunoco’s dividend payout ratio is 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.