Texas Yale Capital Corp. Increases Stock Position in Sunoco LP $SUN

Texas Yale Capital Corp. raised its holdings in shares of Sunoco LP (NYSE:SUN) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,666 shares of the oil and gas company’s stock after purchasing an additional 9,190 shares during the period. Texas Yale Capital Corp. owned approximately 0.06% of Sunoco worth $4,859,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SUN. Bessemer Group Inc. increased its holdings in Sunoco by 41.7% in the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock worth $72,000 after buying an additional 400 shares in the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Sunoco by 12.3% during the 2nd quarter. Carnegie Investment Counsel now owns 5,847 shares of the oil and gas company’s stock valued at $313,000 after acquiring an additional 642 shares during the last quarter. Oxbow Advisors LLC grew its stake in shares of Sunoco by 32.4% in the second quarter. Oxbow Advisors LLC now owns 10,595 shares of the oil and gas company’s stock worth $568,000 after acquiring an additional 2,595 shares during the period. Harbor Asset Planning Inc. bought a new position in Sunoco during the second quarter valued at approximately $41,000. Finally, Cypress Capital Group bought a new position in Sunoco during the second quarter valued at approximately $462,000. Institutional investors own 24.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SUN shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Sunoco in a research report on Wednesday. Mizuho cut their price objective on Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Friday, August 29th. Zacks Research downgraded Sunoco from a “hold” rating to a “strong sell” rating in a report on Tuesday. Wells Fargo & Company set a $65.00 target price on Sunoco and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sunoco in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Sunoco Trading Down 0.8%

Sunoco stock opened at $52.12 on Friday. Sunoco LP has a 12-month low of $47.98 and a 12-month high of $59.88. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 25.68 and a beta of 0.55. The firm has a 50 day moving average of $51.31 and a 200 day moving average of $53.17. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.90). The firm had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.59 billion. Sunoco had a net margin of 2.02% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.26) earnings per share. As a group, research analysts predict that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Thursday, October 30th will be paid a dividend of $0.9202 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $3.68 annualized dividend and a yield of 7.1%. Sunoco’s dividend payout ratio is 181.28%.

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.