Gilman Hill Asset Management LLC Has $1.88 Million Position in Sunoco LP $SUN

Gilman Hill Asset Management LLC boosted its stake in shares of Sunoco LP (NYSE:SUN) by 63.5% in the third quarter, Holdings Channel reports. The firm owned 37,629 shares of the oil and gas company’s stock after acquiring an additional 14,620 shares during the period. Gilman Hill Asset Management LLC’s holdings in Sunoco were worth $1,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. lifted its stake in shares of Sunoco by 0.6% in the first quarter. Raymond James Financial Inc. now owns 346,963 shares of the oil and gas company’s stock worth $20,145,000 after buying an additional 2,124 shares during the last quarter. CW Advisors LLC bought a new position in Sunoco in the 1st quarter worth $1,129,000. Northwestern Mutual Wealth Management Co. lifted its position in Sunoco by 110.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 1,069 shares during the last quarter. Jump Financial LLC bought a new stake in Sunoco during the first quarter valued at about $312,000. Finally, Energy Income Partners LLC grew its position in shares of Sunoco by 2.6% in the first quarter. Energy Income Partners LLC now owns 1,810,296 shares of the oil and gas company’s stock valued at $105,106,000 after purchasing an additional 45,935 shares during the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of NYSE:SUN opened at $52.53 on Wednesday. The firm has a market capitalization of $10.74 billion, a PE ratio of 17.93 and a beta of 0.49. The company has a current ratio of 3.11, a quick ratio of 2.50 and a debt-to-equity ratio of 2.33. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $59.88. The business’s 50 day moving average is $53.43 and its 200-day moving average is $52.54.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.90). Sunoco had a net margin of 2.61% and a return on equity of 13.94%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Thursday, October 30th were issued a dividend of $0.9202 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Thursday, October 30th. This is a positive change from Sunoco’s previous quarterly dividend of $0.91. Sunoco’s payout ratio is 125.60%.

Wall Street Analyst Weigh In

SUN has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $65.00 price objective on Sunoco and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Mizuho dropped their price target on Sunoco from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Friday, August 29th. Raymond James Financial reissued an “outperform” rating and issued a $70.00 price objective on shares of Sunoco in a research report on Wednesday, November 5th. Barclays restated an “overweight” rating and issued a $57.00 price objective on shares of Sunoco in a research note on Monday, November 17th. Finally, Weiss Ratings cut shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.00.

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.