B. Riley Wealth Advisors Inc. Raises Stock Position in Sunoco LP (NYSE:SUN)

B. Riley Wealth Advisors Inc. boosted its holdings in Sunoco LP (NYSE:SUN) by 5.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,447 shares of the oil and gas company’s stock after buying an additional 570 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Sunoco were worth $591,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. CNB Bank purchased a new position in shares of Sunoco during the first quarter valued at about $30,000. Longfellow Investment Management Co. LLC purchased a new position in Sunoco in the second quarter worth about $32,000. First Horizon Advisors Inc. purchased a new position in Sunoco in the second quarter worth about $38,000. Redwood Wealth Management Group LLC purchased a new position in Sunoco in the second quarter worth about $46,000. Finally, Register Financial Advisors LLC purchased a new position in Sunoco in the first quarter worth about $55,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of Sunoco stock opened at $53.42 on Friday. The stock’s fifty day moving average price is $53.26 and its 200-day moving average price is $54.75. Sunoco LP has a 12 month low of $46.55 and a 12 month high of $64.89. The company has a current ratio of 1.26, a quick ratio of 0.72 and a debt-to-equity ratio of 1.69. The firm has a market cap of $8.14 billion, a P/E ratio of 11.90 and a beta of 1.30.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $2.62. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Sunoco LP will post 8.09 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend was Friday, August 9th. Sunoco’s dividend payout ratio (DPR) is 77.95%.

Analysts Set New Price Targets

Several research firms recently commented on SUN. JPMorgan Chase & Co. lifted their price target on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Citigroup upgraded Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, June 18th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Barclays dropped their price target on Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Sunoco presently has an average rating of “Moderate Buy” and an average target price of $62.14.

Sunoco 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.