Exchange Traded Concepts LLC Has $6.88 Million Holdings in Sunoco LP (NYSE:SUN)

Exchange Traded Concepts LLC increased its position in Sunoco LP (NYSE:SUN) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,171 shares of the oil and gas company’s stock after acquiring an additional 8,494 shares during the quarter. Exchange Traded Concepts LLC owned about 0.08% of Sunoco worth $6,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SUN. CNB Bank bought a new position in shares of Sunoco in the first quarter worth about $30,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Sunoco during the second quarter worth approximately $32,000. First Horizon Advisors Inc. bought a new stake in shares of Sunoco in the second quarter valued at approximately $38,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Sunoco in the second quarter worth $46,000. Finally, Register Financial Advisors LLC bought a new position in Sunoco during the first quarter worth $55,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Trading Down 0.3 %

SUN stock opened at $53.76 on Monday. Sunoco LP has a 1-year low of $49.00 and a 1-year high of $64.89. 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 business’s 50 day moving average is $53.10 and its 200-day moving average is $54.38. The firm has a market cap of $8.19 billion, a P/E ratio of 7.11 and a beta of 1.30.

Sunoco (NYSE:SUN) last announced its quarterly 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 analysts’ expectations of $5.63 billion. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Equities analysts anticipate that Sunoco LP will post 8.09 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.51%. The ex-dividend date of this dividend was Friday, August 9th. Sunoco’s dividend payout ratio is currently 46.30%.

Analysts Set New Price Targets

SUN has been the subject of a number of research reports. Citigroup raised shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, June 18th. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Finally, Barclays decreased their price objective on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.14.

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.