Wealth Alliance LLC Makes New Investment in Sunoco LP $SUN

Wealth Alliance LLC acquired a new stake in shares of Sunoco LP (NYSE:SUN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,561 shares of the oil and gas company’s stock, valued at approximately $298,000.

A number of other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Sunoco in the 1st quarter valued at $248,000. Envestnet Asset Management Inc. raised its holdings in Sunoco by 6.0% during the first quarter. Envestnet Asset Management Inc. now owns 32,603 shares of the oil and gas company’s stock worth $1,893,000 after buying an additional 1,845 shares during the last quarter. Stephens Inc. AR bought a new position in shares of Sunoco in the first quarter valued at $442,000. Sigma Planning Corp grew its holdings in shares of Sunoco by 1.7% during the first quarter. Sigma Planning Corp now owns 18,301 shares of the oil and gas company’s stock valued at $1,063,000 after buying an additional 309 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Sunoco by 17.1% during the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company’s stock valued at $166,000 after buying an additional 419 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Down 0.0%

SUN opened at $51.05 on Friday. The company has a fifty day moving average price of $51.21 and a 200-day moving average price of $52.91. The firm has a market capitalization of $7.81 billion, a P/E ratio of 25.15 and a beta of 0.55. 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 one year low of $47.98 and a one year high of $59.88.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.90). The business had revenue of $31.00 million during the quarter, compared to analysts’ expectations of $5.59 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) EPS. Equities research analysts expect that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Thursday, October 30th will be paid a $0.9202 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.91. This represents a $3.68 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Thursday, October 30th. Sunoco’s payout ratio is 125.60%.

Analyst Upgrades and Downgrades

SUN has been the subject of several analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $70.00 price objective on shares of Sunoco in a research note on Wednesday, November 5th. Mizuho dropped their price target on shares of Sunoco from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Friday, August 29th. Zacks Research downgraded Sunoco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sunoco in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sunoco currently has an average rating of “Moderate Buy” and an average target price of $65.50.

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.