Sovereign Investment Advisors LLC Acquires New Holdings in Sunoco LP $SUN

Sovereign Investment Advisors LLC bought a new stake in shares of Sunoco LP (NYSE:SUN) in the 2nd quarter, Holdings Channel.com reports. The fund bought 43,522 shares of the oil and gas company’s stock, valued at approximately $2,332,000. Sunoco comprises approximately 0.6% of Sovereign Investment Advisors LLC’s investment portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in shares of Sunoco by 18.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,086 shares of the oil and gas company’s stock worth $916,000 after purchasing an additional 2,639 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Sunoco by 7.9% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 9,996 shares of the oil and gas company’s stock worth $536,000 after buying an additional 729 shares in the last quarter. Quad Cities Investment Group LLC increased its position in Sunoco by 4.1% during the second quarter. Quad Cities Investment Group LLC now owns 13,577 shares of the oil and gas company’s stock worth $728,000 after buying an additional 536 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of Sunoco by 0.6% in the second quarter. Miller Howard Investments Inc. NY now owns 691,096 shares of the oil and gas company’s stock worth $37,036,000 after acquiring an additional 3,852 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Sunoco by 681.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 41,101 shares of the oil and gas company’s stock valued at $2,262,000 after acquiring an additional 35,839 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Mizuho dropped their price objective on Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Sunoco from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $64.50.

Sunoco Trading Down 1.3%

Shares of SUN stock opened at $49.92 on Friday. The firm’s 50-day simple moving average is $51.59 and its 200-day simple moving average is $53.83. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.52 and a quick ratio of 0.80. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $59.88. The firm has a market cap of $7.64 billion, a P/E ratio of 24.59 and a beta of 0.53.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $1.68 by ($1.35). The company had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the company posted $3.85 EPS. As a group, equities analysts forecast that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a dividend of $0.9088 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Friday, August 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.90. Sunoco’s payout ratio is currently 178.82%.

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.