Wealth Alliance Invests $227,000 in Sunoco LP (NYSE:SUN)

Wealth Alliance purchased a new position in Sunoco LP (NYSE:SUN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,788 shares of the oil and gas company’s stock, valued at approximately $227,000.

A number of other hedge funds have also modified their holdings of SUN. Northwestern Mutual Wealth Management Co. bought a new stake in Sunoco in the fourth quarter worth $26,000. Steward Partners Investment Advisory LLC bought a new stake in Sunoco in the first quarter worth $26,000. Compass Wealth Management LLC boosted its holdings in Sunoco by 60.0% in the third quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 300 shares in the last quarter. Allworth Financial LP boosted its holdings in Sunoco by 250.0% during the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 500 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Sunoco by 62.7% during the first quarter. Harbour Investments Inc. now owns 965 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 372 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sunoco news, Director David K. Skidmore purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average price of $52.10 per share, with a total value of $78,150.00. Following the completion of the transaction, the director now directly owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Sunoco Stock Up 2.1 %

Shares of SUN opened at $55.51 on Friday. The company has a 50-day simple moving average of $60.02 and a 200-day simple moving average of $56.87. The firm has a market capitalization of $5.60 billion, a P/E ratio of 15.25 and a beta of 1.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. Sunoco LP has a 52 week low of $41.95 and a 52 week high of $64.89.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($2.46). Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the company earned $0.42 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts expect that Sunoco LP will post 4.99 earnings per share for the current year.

Sunoco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were given a $0.842 dividend. This represents a $3.37 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend was Tuesday, February 6th. Sunoco’s dividend payout ratio (DPR) is presently 92.58%.

Wall Street Analysts Forecast Growth

SUN has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Sunoco from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. Citigroup cut shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price target on shares of Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Stifel Nicolaus cut shares of Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a report on Tuesday, February 20th. Finally, StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Sunoco currently has an average rating of “Hold” and an average price target of $62.71.

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.