CWA Asset Management Group LLC Purchases New Stake in Sunoco LP (NYSE:SUN)

CWA Asset Management Group LLC purchased a new stake in shares of Sunoco LP (NYSE:SUN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,111 shares of the oil and gas company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Crescent Grove Advisors LLC raised its position in shares of Sunoco by 128.9% during the 3rd quarter. Crescent Grove Advisors LLC now owns 21,886 shares of the oil and gas company’s stock valued at $1,175,000 after acquiring an additional 12,326 shares in the last quarter. Tyche Wealth Partners LLC raised its position in shares of Sunoco by 5.4% during the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after acquiring an additional 200 shares in the last quarter. Covenant Partners LLC bought a new position in Sunoco during the 3rd quarter worth $332,000. Wealth Enhancement Advisory Services LLC grew its stake in Sunoco by 12.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,391 shares of the oil and gas company’s stock worth $236,000 after buying an additional 489 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Sunoco by 5,437.3% during the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after buying an additional 562,435 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Performance

SUN opened at $51.57 on Wednesday. The business has a 50 day moving average price of $52.72 and a two-hundred day moving average price of $53.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 11.86 and a beta of 1.31. Sunoco LP has a 1-year low of $49.45 and a 1-year high of $64.89.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 24.47%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter last year, the company earned $2.95 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. Research analysts predict that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s dividend payout ratio is presently 80.46%.

Analyst Ratings Changes

A number of brokerages recently commented on SUN. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada upped their price objective on Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

Sunoco 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.