Infrastructure Capital Advisors LLC Buys 32,239 Shares of Sunoco LP (NYSE:SUN)

Infrastructure Capital Advisors LLC grew its holdings in Sunoco LP (NYSE:SUN) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,087,407 shares of the oil and gas company’s stock after acquiring an additional 32,239 shares during the period. Sunoco comprises approximately 7.9% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 3rd biggest holding. Infrastructure Capital Advisors LLC owned about 0.71% of Sunoco worth $58,372,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Sunoco by 5,437.3% in the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after acquiring an additional 562,435 shares during the period. Private Advisor Group LLC increased its stake in Sunoco by 40.8% during the 2nd quarter. Private Advisor Group LLC now owns 52,064 shares of the oil and gas company’s stock worth $2,944,000 after buying an additional 15,087 shares during the period. Gateway Advisory LLC purchased a new stake in Sunoco during the 2nd quarter worth $1,222,000. XTX Topco Ltd purchased a new stake in Sunoco during the 2nd quarter worth $889,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Sunoco by 42.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 276,829 shares of the oil and gas company’s stock worth $15,652,000 after buying an additional 83,008 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Trading Up 0.8 %

NYSE SUN opened at $54.63 on Friday. Sunoco LP has a one year low of $49.45 and a one year high of $64.89. The company has a 50-day simple moving average of $52.82 and a 200-day simple moving average of $53.52. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The firm has a market capitalization of $8.33 billion, a PE ratio of 12.56 and a beta of 1.31.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the firm posted $2.95 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. On average, equities analysts forecast that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date was Friday, November 8th. Sunoco’s payout ratio is 80.46%.

Analysts Set New Price Targets

SUN has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target 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. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada boosted their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.