Recurrent Investment Advisors LLC Purchases 349,254 Shares of Sunoco LP $SUN

Recurrent Investment Advisors LLC increased its position in Sunoco LP (NYSE:SUN) by 51.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,027,877 shares of the oil and gas company’s stock after acquiring an additional 349,254 shares during the quarter. Sunoco comprises 4.0% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Recurrent Investment Advisors LLC owned approximately 0.50% of Sunoco worth $66,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SUN. Infrastructure Capital Advisors LLC boosted its position in Sunoco by 34.1% during the first quarter. Infrastructure Capital Advisors LLC now owns 972,935 shares of the oil and gas company’s stock worth $63,212,000 after purchasing an additional 247,569 shares during the period. Gateway Wealth Partners LLC purchased a new position in shares of Sunoco in the first quarter worth about $227,000. Waverly Advisors LLC raised its position in shares of Sunoco by 5.3% in the first quarter. Waverly Advisors LLC now owns 132,058 shares of the oil and gas company’s stock valued at $8,580,000 after purchasing an additional 6,607 shares during the period. Lido Advisors LLC bought a new stake in shares of Sunoco in the first quarter valued at approximately $397,000. Finally, Cetera Investment Advisers raised its position in shares of Sunoco by 15.1% in the first quarter. Cetera Investment Advisers now owns 62,560 shares of the oil and gas company’s stock valued at $4,065,000 after purchasing an additional 8,211 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Sunoco Trading Up 2.7%

Shares of SUN stock opened at $76.55 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $77.03. The company has a market capitalization of $15.68 billion, a PE ratio of 19.58 and a beta of 0.42. The business’s fifty day moving average is $68.32 and its 200 day moving average is $64.96.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $1.14. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm’s quarterly revenue was up 106.4% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. On average, equities research analysts anticipate that Sunoco LP will post 7.73 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $1.0023 dividend. This represents a $4.01 annualized dividend and a dividend yield of 5.2%. This is a positive change from Sunoco’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, August 7th. Sunoco’s dividend payout ratio (DPR) is currently 101.28%.

Wall Street Analyst Weigh In

SUN has been the subject of several analyst reports. Barclays raised their price objective on shares of Sunoco from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Sunoco from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Wells Fargo & Company increased their target price on Sunoco from $71.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen raised Sunoco from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Royal Bank Of Canada lifted their price target on Sunoco to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $77.12.

Sunoco Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.