Sunoco LP (NYSE:SUN) Holdings Raised by Wedbush Securities Inc.

Wedbush Securities Inc. grew its stake in shares of Sunoco LP (NYSE:SUN) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 11,674 shares of the oil and gas company’s stock after acquiring an additional 932 shares during the period. Wedbush Securities Inc.’s holdings in Sunoco were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SUN. Huntington National Bank grew its stake in Sunoco by 440.3% in the fourth quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 1,453 shares in the last quarter. Summit Financial LLC grew its stake in shares of Sunoco by 7.3% in the 4th quarter. Summit Financial LLC now owns 76,448 shares of the oil and gas company’s stock valued at $3,932,000 after buying an additional 5,212 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Sunoco by 32,166.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company’s stock worth $12,137,000 after buying an additional 230,634 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Sunoco by 16.7% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 111,630 shares of the oil and gas company’s stock valued at $5,742,000 after acquiring an additional 15,968 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Sunoco in the fourth quarter valued at approximately $239,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Performance

Shares of SUN opened at $52.45 on Tuesday. The company has a market capitalization of $8.01 billion, a PE ratio of 7.95 and a beta of 1.06. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. Sunoco LP has a one year low of $48.00 and a one year high of $59.67. The company’s fifty day moving average price is $57.54 and its 200 day moving average price is $54.61.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. As a group, analysts expect that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.8865 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.76%. Sunoco’s payout ratio is 53.64%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SUN. Royal Bank of Canada raised their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Mizuho raised their target price on Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. Finally, Barclays reduced their price target on Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.83.

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.