International Assets Investment Management LLC Has $30.75 Million Stake in Sunoco LP (NYSE:SUN)

International Assets Investment Management LLC increased its position in shares of Sunoco LP (NYSE:SUN) by 5,437.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 572,779 shares of the oil and gas company’s stock after purchasing an additional 562,435 shares during the period. International Assets Investment Management LLC owned approximately 0.38% of Sunoco worth $30,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CNB Bank bought a new stake in shares of Sunoco in the first quarter valued at about $30,000. Longfellow Investment Management Co. LLC acquired a new stake in Sunoco in the 2nd quarter worth about $32,000. First Horizon Advisors Inc. bought a new stake in Sunoco in the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of Sunoco during the 2nd quarter worth approximately $46,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Sunoco during the second quarter worth approximately $93,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Sunoco Stock Down 0.5 %

SUN stock opened at $51.94 on Tuesday. The stock has a market capitalization of $7.92 billion, a P/E ratio of 6.87 and a beta of 1.30. 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 50-day moving average price of $53.10 and a 200-day moving average price of $53.91. Sunoco LP has a 12 month low of $49.00 and a 12 month high of $64.89.

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

Sunoco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be issued a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.74%. Sunoco’s payout ratio is presently 46.30%.

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.