36,000 Shares in Sunoco LP (NYSE:SUN) Acquired by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. acquired a new position in shares of Sunoco LP (NYSE:SUN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 36,000 shares of the oil and gas company’s stock, valued at approximately $1,852,000.

Other large investors also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in shares of Sunoco in the 4th quarter worth about $53,000. Steward Partners Investment Advisory LLC lifted its holdings in Sunoco by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 182 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Sunoco by 93.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 788 shares during the last quarter. Huntington National Bank raised its stake in Sunoco by 440.3% during the 4th 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 during the period. Finally, Allworth Financial LP grew its position in Sunoco by 90.6% during the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 819 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of NYSE:SUN opened at $53.68 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. The stock’s 50 day moving average is $56.92 and its 200-day moving average is $54.54. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 8.13 and a beta of 1.06. Sunoco LP has a twelve month low of $48.00 and a twelve month high of $59.67.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Sell-side analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.8865 dividend. The ex-dividend date was Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a yield of 6.61%. Sunoco’s payout ratio is 53.64%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SUN shares. Mizuho raised their target price on shares of Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, April 3rd. Barclays decreased their price target on Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.83.

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.