Texas Yale Capital Corp. Boosts Stock Position in Sunoco LP $SUN

Texas Yale Capital Corp. increased its position in Sunoco LP (NYSE:SUN) by 34.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,716 shares of the oil and gas company’s stock after acquiring an additional 31,050 shares during the quarter. Texas Yale Capital Corp. owned about 0.08% of Sunoco worth $6,087,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Sunoco in the third quarter worth approximately $31,000. Bessemer Group Inc. boosted its holdings in Sunoco by 41.7% in the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock worth $72,000 after buying an additional 400 shares during the period. Parkside Financial Bank & Trust increased its stake in Sunoco by 95.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock worth $74,000 after buying an additional 675 shares in the last quarter. State of Wyoming bought a new stake in Sunoco during the second quarter valued at about $111,000. Finally, Pinnacle Financial Partners Inc purchased a new position in shares of Sunoco in the third quarter valued at about $200,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

SUN has been the subject of several research analyst reports. Zacks Research cut Sunoco from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Barclays set a $60.00 price objective on shares of Sunoco and gave the company an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings upgraded shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Raymond James Financial raised shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research note on Monday, January 5th. Finally, Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $65.60.

Sunoco Price Performance

Sunoco stock opened at $59.50 on Monday. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $60.62. The company has a quick ratio of 2.50, a current ratio of 3.11 and a debt-to-equity ratio of 2.33. The firm’s fifty day moving average is $55.56 and its 200 day moving average is $53.36. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 20.31 and a beta of 0.51.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be given a $0.9317 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, February 6th. Sunoco’s dividend payout ratio (DPR) is 127.30%.

Sunoco Company 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.