Advisors Asset Management Inc. Has $2.47 Million Stake in Sunoco LP (NYSE:SUN)

Advisors Asset Management Inc. increased its holdings in shares of Sunoco LP (NYSE:SUN) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,916 shares of the oil and gas company’s stock after purchasing an additional 3,211 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sunoco were worth $2,465,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SUN. Independence Bank of Kentucky acquired a new position in Sunoco during the fourth quarter worth $53,000. Steward Partners Investment Advisory LLC boosted its holdings in Sunoco by 17.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 182 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after acquiring an additional 788 shares during the last quarter. Allworth Financial LP lifted its stake in Sunoco by 90.6% in the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 819 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Sunoco by 112.5% in the fourth quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock valued at $126,000 after acquiring an additional 1,295 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SUN. Barclays increased their price target on shares of Sunoco from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Royal Bank of Canada increased their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Mizuho increased their price target on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. One research 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, Sunoco has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Sunoco Price Performance

Shares of SUN opened at $56.94 on Friday. The firm has a market capitalization of $8.69 billion, a PE ratio of 8.63 and a beta of 1.35. The company’s 50-day moving average is $56.98 and its 200-day moving average is $54.28. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Equities analysts forecast that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.8865 per share. This represents a $3.55 dividend on an annualized basis and a yield of 6.23%. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is currently 53.64%.

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.