Infrastructure Capital Advisors LLC Purchases 76,939 Shares of Sunoco LP $SUN

Infrastructure Capital Advisors LLC raised its position in Sunoco LP (NYSE:SUN) by 11.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 725,366 shares of the oil and gas company’s stock after buying an additional 76,939 shares during the quarter. Sunoco makes up about 3.7% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Infrastructure Capital Advisors LLC’s holdings in Sunoco were worth $38,016,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SUN. Royal Bank of Canada boosted its position in shares of Sunoco by 6.4% in the 1st quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company’s stock worth $9,239,000 after purchasing an additional 9,592 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Sunoco by 10.9% in the 2nd quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company’s stock worth $652,000 after purchasing an additional 1,201 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Sunoco by 226.2% in the 2nd quarter. NewEdge Advisors LLC now owns 7,088 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 4,915 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Sunoco by 5.5% in the 2nd quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company’s stock worth $19,611,000 after purchasing an additional 18,990 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Sunoco by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company’s stock worth $1,996,000 after purchasing an additional 2,810 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SUN shares. Wall Street Zen lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Mizuho raised their price target on Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada raised their price target on Sunoco to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Raymond James Financial restated a “strong-buy” rating and issued a $80.00 price target on shares of Sunoco in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $74.13.

Sunoco Stock Performance

Shares of Sunoco stock opened at $62.66 on Thursday. The company has a market capitalization of $12.83 billion, a PE ratio of 16.03 and a beta of 0.43. Sunoco LP has a 12 month low of $47.98 and a 12 month high of $72.88. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 2.03. The stock’s fifty day simple moving average is $66.84 and its 200 day simple moving average is $61.64.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.71 by $1.14. The business had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm’s revenue was up 106.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. On average, research analysts predict that Sunoco LP will post 7.92 EPS for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a dividend of $0.9899 per share. This represents a $3.96 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Sunoco’s previous quarterly dividend of $0.93. Sunoco’s dividend payout ratio (DPR) is 101.28%.

About Sunoco

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.