Investment Centers of America Inc. held its stake in Sunoco LP (NYSE:SUN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,000 shares of the oil and gas company’s stock at the close of the 2nd quarter. Investment Centers of America Inc.’s holdings in Sunoco were worth $612,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Trust N.A. purchased a new stake in Sunoco in the second quarter worth about $246,000. Alliancebernstein L.P. grew its holdings in Sunoco by 5.9% in the second quarter. Alliancebernstein L.P. now owns 12,679 shares of the oil and gas company’s stock worth $388,000 after purchasing an additional 710 shares during the period. Private Advisor Group LLC grew its holdings in Sunoco by 9.0% in the second quarter. Private Advisor Group LLC now owns 19,092 shares of the oil and gas company’s stock worth $577,000 after purchasing an additional 1,583 shares during the period. Ffcm LLC purchased a new stake in Sunoco in the second quarter worth about $112,000. Finally, Quinn Opportunity Partners LLC purchased a new stake in Sunoco in the second quarter worth about $2,541,000. Institutional investors and hedge funds own 30.88% of the company’s stock.
Sunoco LP (NYSE SUN) traded up 0.06% during midday trading on Friday, hitting $31.64. 252,419 shares of the stock were exchanged. Sunoco LP has a 12 month low of $21.01 and a 12 month high of $32.67. The company’s market cap is $3.15 billion. The firm’s 50 day moving average price is $31.32 and its 200 day moving average price is $29.39.
A number of equities research analysts have weighed in on the stock. Jefferies Group LLC restated a “hold” rating and issued a $30.00 price objective (up previously from $29.00) on shares of Sunoco in a report on Monday, September 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $35.00 price objective (up previously from $32.00) on shares of Sunoco in a report on Wednesday, September 6th. BidaskClub upgraded shares of Sunoco from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. UBS AG restated a “neutral” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Sunoco in a report on Monday, August 14th. Finally, Mizuho cut shares of Sunoco from a “neutral” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Sunoco presently has a consensus rating of “Hold” and a consensus target price of $31.25.
Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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