Sunoco LP (NYSE:SUN) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sunoco LP (NYSE:SUN) by 12.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,391 shares of the oil and gas company’s stock after acquiring an additional 489 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Sunoco were worth $236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wedbush Securities Inc. grew its position in Sunoco by 2.1% in the 2nd 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 in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Sunoco by 2.5% during the second 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 holdings in Sunoco by 2.2% during the second quarter. Quad Cities Investment Group LLC now owns 13,624 shares of the oil and gas company’s stock worth $770,000 after purchasing an additional 288 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Sunoco by 3.7% in the second quarter. EP Wealth Advisors LLC now owns 8,296 shares of the oil and gas company’s stock worth $469,000 after purchasing an additional 293 shares during the period. Finally, Good Life Advisors LLC boosted its stake in Sunoco by 4.4% during the 3rd quarter. Good Life Advisors LLC now owns 8,722 shares of the oil and gas company’s stock valued at $468,000 after purchasing an additional 370 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of SUN opened at $51.56 on Tuesday. The company has a 50-day moving average of $52.75 and a two-hundred day moving average of $53.73. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 11.85 and a beta of 1.31. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. Sunoco LP has a one year low of $49.45 and a one year high of $64.89.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 24.47% and a net margin of 2.72%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 EPS. On average, equities research analysts expect that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be given a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s payout ratio is 80.46%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SUN. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped 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, Royal Bank of Canada lifted their price objective on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.25.

Sunoco Company 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.