Sunoco LP (NYSE:SUN) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in Sunoco LP (NYSE:SUN) by 39.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,901 shares of the oil and gas company’s stock after buying an additional 8,764 shares during the period. Cetera Investment Advisers’ holdings in Sunoco were worth $1,747,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CNB Bank acquired a new position in shares of Sunoco in the 1st quarter valued at $30,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Sunoco in the 2nd quarter valued at $32,000. First Horizon Advisors Inc. acquired a new position in shares of Sunoco in the 2nd quarter valued at $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of Sunoco in the 2nd quarter valued at $46,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Sunoco in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of NYSE SUN opened at $53.74 on Tuesday. The stock’s 50-day moving average is $53.12 and its two-hundred day moving average is $54.33. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. Sunoco LP has a 1-year low of $49.00 and a 1-year high of $64.89. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 7.11 and a beta of 1.30.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share for the quarter, topping the consensus estimate of $1.23 by $2.62. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the prior year, the business earned $0.78 EPS. Sunoco’s revenue was up 7.5% on a year-over-year basis. Analysts forecast that Sunoco LP will post 8.09 EPS for the current fiscal year.

Sunoco Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.50 annualized dividend and a yield of 6.52%. Sunoco’s dividend payout ratio (DPR) is 46.30%.

Analysts Set New Price Targets

SUN has been the topic of several recent analyst reports. Barclays decreased their price target on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Citigroup upgraded Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.14.

Sunoco Company 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.