M.E. Allison & CO. Inc. Makes New $542,000 Investment in Sunoco LP (NYSE:SUN)

M.E. Allison & CO. Inc. bought a new position in shares of Sunoco LP (NYSE:SUN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,545 shares of the oil and gas company’s stock, valued at approximately $542,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC grew its holdings in Sunoco by 6.1% during the 4th quarter. Ameritas Advisory Services LLC now owns 4,940 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 282 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Sunoco by 15.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,255 shares of the oil and gas company’s stock valued at $528,000 after buying an additional 1,371 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Sunoco in the 4th quarter valued at about $129,000. Chickasaw Capital Management LLC boosted its holdings in shares of Sunoco by 21.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 77,000 shares of the oil and gas company’s stock valued at $3,961,000 after buying an additional 13,600 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Sunoco by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after buying an additional 455,361 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SUN has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Sunoco currently has an average rating of “Moderate Buy” and an average target price of $62.43.

Sunoco Stock Down 0.5 %

SUN stock opened at $54.46 on Monday. The company’s 50 day moving average price is $52.98 and its 200 day moving average price is $53.41. 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 $8.30 billion, a price-to-earnings ratio of 12.52 and a beta of 1.36. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share 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 firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period in the previous year, the company posted $2.95 earnings per share. Sunoco’s revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sunoco LP will post 6.87 EPS for the current fiscal year.

Sunoco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.8756 dividend. This represents a $3.50 annualized dividend and a yield of 6.43%. The ex-dividend date was Friday, November 8th. Sunoco’s payout ratio is 80.46%.

About Sunoco

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.