Sunoco LP $SUN Position Boosted by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in Sunoco LP (NYSE:SUN) by 2,633.2% in the third quarter, Holdings Channel.com reports. The firm owned 300,000 shares of the oil and gas company’s stock after acquiring an additional 289,024 shares during the period. International Assets Investment Management LLC’s holdings in Sunoco were worth $21,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Recurrent Investment Advisors LLC grew its position in shares of Sunoco by 51.5% during the 1st quarter. Recurrent Investment Advisors LLC now owns 1,027,877 shares of the oil and gas company’s stock worth $66,781,000 after buying an additional 349,254 shares during the period. Infrastructure Capital Advisors LLC lifted its holdings in Sunoco by 34.1% in the first quarter. Infrastructure Capital Advisors LLC now owns 972,935 shares of the oil and gas company’s stock valued at $63,212,000 after buying an additional 247,569 shares during the period. Allianz Asset Management GmbH boosted its stake in Sunoco by 12.4% in the second quarter. Allianz Asset Management GmbH now owns 369,073 shares of the oil and gas company’s stock valued at $24,912,000 after acquiring an additional 40,758 shares during the last quarter. Bank of America Corp DE boosted its stake in Sunoco by 32.0% in the first quarter. Bank of America Corp DE now owns 204,609 shares of the oil and gas company’s stock valued at $13,293,000 after acquiring an additional 49,589 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Sunoco by 7.2% during the 1st quarter. Royal Bank of Canada now owns 190,474 shares of the oil and gas company’s stock worth $12,375,000 after acquiring an additional 12,806 shares during the period. 24.29% of the stock is owned by institutional investors.

Sunoco Stock Down 0.1%

Shares of NYSE SUN opened at $70.84 on Friday. The stock has a market cap of $14.51 billion, a P/E ratio of 15.67 and a beta of 0.43. The firm has a 50 day moving average price of $74.81 and a 200 day moving average price of $68.43. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.83 and a current ratio of 1.29. Sunoco LP has a 52-week low of $49.98 and a 52-week high of $80.22.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). The firm had revenue of $14.26 billion for the quarter, compared to the consensus estimate of $11.05 billion. Sunoco had a return on equity of 18.78% and a net margin of 2.88%. The company’s revenue for the quarter was up 164.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. Analysts expect that Sunoco LP will post 10.60 EPS for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be given a $1.0148 dividend. The ex-dividend date is Friday, November 6th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Sunoco’s previous quarterly dividend of $1.0023. Sunoco’s dividend payout ratio is currently 89.60%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup upped their target price on shares of Sunoco from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Mizuho set a $83.00 price target on Sunoco in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th. Barclays reaffirmed an “overweight” rating and set a $83.00 price objective on shares of Sunoco in a research note on Thursday, October 15th. Finally, Wells Fargo & Company upped their price objective on Sunoco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sunoco presently has an average rating of “Buy” and an average target price of $79.75.

Sunoco Company Profile

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand.

Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.