Recurrent Investment Advisors LLC Purchases 24,686 Shares of Sunoco LP (NYSE:SUN)

Recurrent Investment Advisors LLC lifted its holdings in Sunoco LP (NYSE:SUN) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 888,862 shares of the oil and gas company’s stock after purchasing an additional 24,686 shares during the quarter. Sunoco comprises about 4.2% of Recurrent Investment Advisors LLC’s portfolio, making the stock its 13th biggest position. Recurrent Investment Advisors LLC owned approximately 0.58% of Sunoco worth $45,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in Sunoco by 2.3% in the fourth quarter. Invesco Ltd. now owns 8,868,926 shares of the oil and gas company’s stock worth $456,218,000 after acquiring an additional 198,859 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sunoco by 5.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company’s stock valued at $134,192,000 after purchasing an additional 128,042 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in Sunoco by 0.9% in the 4th quarter. Miller Howard Investments Inc. NY now owns 595,057 shares of the oil and gas company’s stock worth $30,610,000 after purchasing an additional 5,296 shares in the last quarter. ING Groep NV grew its position in Sunoco by 223.7% during the 4th quarter. ING Groep NV now owns 513,715 shares of the oil and gas company’s stock worth $26,426,000 after purchasing an additional 355,000 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Sunoco by 63.5% during the 4th quarter. Neuberger Berman Group LLC now owns 497,891 shares of the oil and gas company’s stock valued at $25,611,000 after purchasing an additional 193,278 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SUN shares. Barclays dropped their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Mizuho increased their price objective on Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.33.

Sunoco Trading Down 1.5%

Sunoco stock opened at $56.60 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The firm has a market cap of $8.64 billion, a PE ratio of 8.58 and a beta of 0.67. The stock’s 50 day simple moving average is $56.62 and its two-hundred day simple moving average is $55.19. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.48). The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.58 billion. Sunoco had a net margin of 3.85% and a return on equity of 22.52%. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 EPS. Analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be paid a $0.8976 dividend. This represents a $3.59 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Sunoco’s previous quarterly dividend of $0.89. Sunoco’s payout ratio is currently 64.68%.

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.