Fisher Asset Management LLC Takes $268,000 Position in Sunoco LP (NYSE:SUN)

Fisher Asset Management LLC purchased a new position in shares of Sunoco LP (NYSE:SUN) in the third quarter, HoldingsChannel reports. The institutional investor purchased 4,987 shares of the oil and gas company’s stock, valued at approximately $268,000.

Other large investors have also recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC lifted its stake in shares of Sunoco by 5.4% during the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 200 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in Sunoco by 2.1% in the 2nd quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock worth $597,000 after acquiring an additional 218 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in Sunoco by 2.5% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 9,325 shares of the oil and gas company’s stock valued at $527,000 after acquiring an additional 228 shares in the last quarter. Quad Cities Investment Group LLC grew its position in Sunoco by 2.2% in the second quarter. Quad Cities Investment Group LLC now owns 13,624 shares of the oil and gas company’s stock valued at $770,000 after acquiring an additional 288 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Sunoco by 3.7% during the second quarter. EP Wealth Advisors LLC now owns 8,296 shares of the oil and gas company’s stock valued at $469,000 after purchasing an additional 293 shares during the period. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Up 3.3 %

NYSE:SUN opened at $56.46 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 12.98 and a beta of 1.31. Sunoco LP has a one year low of $49.45 and a one year high of $64.89. The stock has a 50-day simple moving average of $52.91 and a 200 day simple moving average of $53.55.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. Sunoco’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 EPS. Sell-side 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 was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.20%. Sunoco’s payout ratio is 80.46%.

Analyst Upgrades and Downgrades

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

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.