Creative Planning Has $1.65 Million Stock Holdings in Sunoco LP (NYSE:SUN)

Creative Planning grew its stake in Sunoco LP (NYSE:SUN) by 17.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,650 shares of the oil and gas company’s stock after purchasing an additional 4,632 shares during the quarter. Creative Planning’s holdings in Sunoco were worth $1,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SUN. Wedbush Securities Inc. lifted its stake in Sunoco by 2.1% in the second quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock valued at $597,000 after buying an additional 218 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in shares of Sunoco by 2.5% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 9,325 shares of the oil and gas company’s stock valued at $527,000 after acquiring an additional 228 shares during the period. Quad Cities Investment Group LLC raised its position in shares of Sunoco by 2.2% in the 2nd quarter. Quad Cities Investment Group LLC now owns 13,624 shares of the oil and gas company’s stock valued at $770,000 after acquiring an additional 288 shares during the period. EP Wealth Advisors LLC boosted its stake in Sunoco by 3.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 8,296 shares of the oil and gas company’s stock worth $469,000 after acquiring an additional 293 shares during the last quarter. Finally, Mcdonald Partners LLC grew its holdings in Sunoco by 2.6% during the second quarter. Mcdonald Partners LLC now owns 15,388 shares of the oil and gas company’s stock valued at $870,000 after purchasing an additional 388 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Sunoco Stock Performance

Shares of Sunoco stock opened at $51.66 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 6.83 and a beta of 1.30. The stock’s 50-day moving average is $53.08 and its 200-day moving average is $53.89. Sunoco LP has a one year low of $49.00 and a one year high of $64.89.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating the consensus estimate of $1.23 by $2.62. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. Equities analysts predict that Sunoco LP will post 8.07 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.78%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s payout ratio is 46.30%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SUN shares. Royal Bank of Canada increased their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Barclays dropped their price target on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. 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 currently has an average rating of “Moderate Buy” and an average price target of $62.25.

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.