Beach Investment Counsel Inc. PA purchased a new position in shares of Sunoco LP (NYSE:SUN) during the second quarter, Holdings Channel reports. The institutional investor purchased 11,802 shares of the oil and gas company’s stock, valued at approximately $361,000.

Several other large investors also recently bought and sold shares of SUN. Cypress Asset Management Inc. TX increased its stake in Sunoco by 0.7% in the first quarter. Cypress Asset Management Inc. TX now owns 11,036 shares of the oil and gas company’s stock worth $267,000 after buying an additional 74 shares during the last quarter. Atria Investments LLC increased its stake in Sunoco by 2.1% in the first quarter. Atria Investments LLC now owns 11,393 shares of the oil and gas company’s stock worth $275,000 after buying an additional 233 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in Sunoco by 6.3% in the first quarter. SRS Capital Advisors Inc. now owns 7,123 shares of the oil and gas company’s stock worth $172,000 after buying an additional 420 shares during the last quarter. First Heartland Consultants Inc. increased its stake in Sunoco by 4.9% in the first quarter. First Heartland Consultants Inc. now owns 24,716 shares of the oil and gas company’s stock worth $597,000 after buying an additional 1,159 shares during the last quarter. Finally, Baldwin Brothers Inc. MA increased its stake in Sunoco by 25.0% in the first quarter. Baldwin Brothers Inc. MA now owns 7,500 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 27.47% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, August 7th will be issued a dividend of $0.8255 per share. This represents a $3.30 dividend on an annualized basis and a yield of 10.57%. The ex-dividend date is Thursday, August 3rd. Sunoco’s payout ratio is -57.19%.

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A number of equities research analysts have recently issued reports on the stock. UBS AG downgraded shares of Sunoco from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Tuesday, April 11th. Vetr upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $30.54 price target for the company in a research report on Wednesday, May 3rd. Citigroup Inc. upgraded shares of Sunoco from a “sell” rating to a “neutral” rating and lifted their price target for the company from $22.00 to $29.00 in a research report on Tuesday, April 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $32.00 price target on shares of Sunoco in a research report on Tuesday, June 20th. Finally, BidaskClub upgraded shares of Sunoco from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.04.

About Sunoco

Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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