Sunoco LP $SUN is Alps Advisors Inc.’s 6th Largest Position

Alps Advisors Inc. boosted its stake in Sunoco LP (NYSE:SUN) by 2.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,089,484 shares of the oil and gas company’s stock after buying an additional 599,655 shares during the quarter. Sunoco makes up about 6.7% of Alps Advisors Inc.’s holdings, making the stock its 6th biggest position. Alps Advisors Inc. owned about 15.74% of Sunoco worth $1,204,715,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. ELCO Management Co. LLC increased its position in Sunoco by 6.3% during the 3rd quarter. ELCO Management Co. LLC now owns 27,830 shares of the oil and gas company’s stock worth $1,392,000 after purchasing an additional 1,645 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Sunoco by 11.4% during the third quarter. Envestnet Asset Management Inc. now owns 34,834 shares of the oil and gas company’s stock worth $1,742,000 after buying an additional 3,568 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Sunoco by 23.2% in the third quarter. Jones Financial Companies Lllp now owns 7,383 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 1,392 shares during the last quarter. Lee Financial Co raised its position in shares of Sunoco by 573.1% in the third quarter. Lee Financial Co now owns 25,705 shares of the oil and gas company’s stock valued at $1,286,000 after buying an additional 21,886 shares during the last quarter. Finally, Truist Financial Corp purchased a new position in shares of Sunoco during the third quarter valued at approximately $1,161,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of NYSE:SUN opened at $57.72 on Friday. The business has a 50-day moving average of $55.13 and a two-hundred day moving average of $53.18. The firm has a market capitalization of $11.81 billion, a PE ratio of 19.70 and a beta of 0.51. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50. Sunoco LP has a 12 month low of $47.98 and a 12 month high of $59.88.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.90). The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.59 billion. Sunoco had a net margin of 2.61% and a return on equity of 13.94%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) earnings per share. As a group, research analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.9317 per share. This is an increase from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, February 6th. Sunoco’s payout ratio is presently 125.60%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen raised shares of Sunoco from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings raised Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Zacks Research lowered Sunoco from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wells Fargo & Company set a $65.00 price target on Sunoco and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Raymond James Financial upgraded Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price target for the company in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $65.60.

Sunoco Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.