Tidal Investments LLC Buys 1,105 Shares of Sunoco LP (NYSE:SUN)

Tidal Investments LLC increased its stake in shares of Sunoco LP (NYSE:SUN) by 17.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,597 shares of the oil and gas company’s stock after purchasing an additional 1,105 shares during the period. Tidal Investments LLC’s holdings in Sunoco were worth $408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in shares of Sunoco by 11.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock worth $5,236,000 after buying an additional 10,080 shares during the period. Gateway Advisory LLC bought a new stake in Sunoco in the second quarter valued at approximately $1,222,000. International Assets Investment Management LLC increased its stake in Sunoco by 5,437.3% in the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after purchasing an additional 562,435 shares in the last quarter. Private Advisor Group LLC raised its holdings in Sunoco by 40.8% in the second quarter. Private Advisor Group LLC now owns 52,064 shares of the oil and gas company’s stock worth $2,944,000 after purchasing an additional 15,087 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Sunoco during the second quarter worth $889,000. Institutional investors own 24.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SUN. JPMorgan Chase & Co. raised 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. Barclays lifted their price objective on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada increased their target price on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.75.

Sunoco Price Performance

Shares of SUN opened at $51.48 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. Sunoco LP has a twelve month low of $49.45 and a twelve month high of $64.89. The stock has a market capitalization of $7.85 billion, a P/E ratio of 11.83 and a beta of 1.33. The company has a 50 day moving average of $52.93 and a 200-day moving average of $53.77.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) 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 19.77%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities research analysts forecast that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given 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 6.80%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

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.