Corient Private Wealth LLC Invests $703,000 in Sunoco LP $SUN

Corient Private Wealth LLC acquired a new stake in shares of Sunoco LP (NYSE:SUN) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 13,124 shares of the oil and gas company’s stock, valued at approximately $703,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its holdings in Sunoco by 2.2% during the first quarter. EP Wealth Advisors LLC now owns 8,590 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 186 shares in the last quarter. Ameritas Advisory Services LLC raised its position in shares of Sunoco by 3.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 193 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Sunoco by 2.1% during the 2nd quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock valued at $552,000 after buying an additional 212 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Sunoco by 41.7% during the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 400 shares in the last quarter. Finally, Quad Cities Investment Group LLC boosted its holdings in Sunoco by 4.1% in the 2nd quarter. Quad Cities Investment Group LLC now owns 13,577 shares of the oil and gas company’s stock worth $728,000 after buying an additional 536 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Up 0.6%

Shares of SUN opened at $52.85 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 18.04 and a beta of 0.49. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $59.88. The business’s 50 day simple moving average is $53.41 and its 200-day simple moving average is $52.54.

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

Sunoco Increases Dividend

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

Analyst Ratings Changes

SUN has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating and set a $57.00 price target on shares of Sunoco in a report on Monday, November 17th. Zacks Research downgraded Sunoco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Raymond James Financial restated an “outperform” rating and issued a $70.00 price target on shares of Sunoco in a research note on Wednesday, November 5th. Wells Fargo & Company set a $65.00 price objective on shares of Sunoco and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings lowered shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.00.

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.