Tortoise Capital Advisors L.L.C. Has $76.41 Million Position in Sunoco LP (NYSE:SUN)

Tortoise Capital Advisors L.L.C. boosted its stake in shares of Sunoco LP (NYSE:SUN) by 26,345.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,351,368 shares of the oil and gas company’s stock after purchasing an additional 1,346,258 shares during the period. Sunoco comprises approximately 1.0% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 20th largest position. Tortoise Capital Advisors L.L.C. owned approximately 1.34% of Sunoco worth $76,406,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC increased its stake in shares of Sunoco by 2.5% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 9,325 shares of the oil and gas company’s stock worth $527,000 after acquiring an additional 228 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Sunoco by 3.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock worth $574,000 after purchasing an additional 283 shares in the last quarter. Quad Cities Investment Group LLC lifted its holdings in shares of Sunoco by 2.2% during the 2nd quarter. Quad Cities Investment Group LLC now owns 13,624 shares of the oil and gas company’s stock valued at $770,000 after buying an additional 288 shares during the last quarter. XML Financial LLC grew its stake in shares of Sunoco by 1.3% in the 4th quarter. XML Financial LLC now owns 24,779 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 329 shares in the last quarter. Finally, Mcdonald Partners LLC increased its holdings in Sunoco by 2.6% in the second quarter. Mcdonald Partners LLC now owns 15,388 shares of the oil and gas company’s stock worth $870,000 after buying an additional 388 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analysts Set New Price Targets

SUN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays lowered their target price on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $60.00 to $59.00 in a research report on Tuesday, June 4th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus raised Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.14.

Sunoco Stock Performance

SUN opened at $51.87 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The stock’s 50 day moving average price is $54.55 and its two-hundred day moving average price is $55.96. The firm has a market capitalization of $7.91 billion, a P/E ratio of 11.55 and a beta of 1.30. Sunoco LP has a 12-month low of $44.26 and a 12-month high of $64.89.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $2.62. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. Sunoco’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities analysts forecast that Sunoco LP will post 7.01 earnings per share for the current year.

Sunoco Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.8756 per share. The ex-dividend date was Friday, August 9th. This represents a $3.50 annualized dividend and a dividend yield of 6.75%. Sunoco’s payout ratio is 77.95%.

Sunoco 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.