Avantax Advisory Services Inc. Takes $387,000 Position in Sunoco LP (NYSE:SUN)

Avantax Advisory Services Inc. purchased a new stake in Sunoco LP (NYSE:SUNFree Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,914 shares of the oil and gas company’s stock, valued at approximately $387,000.

A number of other institutional investors also recently modified their holdings of SUN. Cambridge Investment Research Advisors Inc. raised its position in shares of Sunoco by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,939 shares of the oil and gas company’s stock valued at $569,000 after purchasing an additional 1,140 shares during the period. HighTower Advisors LLC raised its position in shares of Sunoco by 70.2% in the first quarter. HighTower Advisors LLC now owns 23,016 shares of the oil and gas company’s stock valued at $941,000 after purchasing an additional 9,491 shares during the period. Cetera Advisor Networks LLC raised its position in shares of Sunoco by 7.1% in the first quarter. Cetera Advisor Networks LLC now owns 5,369 shares of the oil and gas company’s stock valued at $219,000 after purchasing an additional 357 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Sunoco by 5.3% in the first quarter. PNC Financial Services Group Inc. now owns 25,640 shares of the oil and gas company’s stock valued at $1,048,000 after purchasing an additional 1,300 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Sunoco by 1.7% in the first quarter. International Assets Investment Management LLC now owns 15,519 shares of the oil and gas company’s stock valued at $634,000 after purchasing an additional 266 shares during the period. Institutional investors own 17.62% of the company’s stock.

Insiders Place Their Bets

In other Sunoco news, insider Arnold Dodderer sold 7,832 shares of Sunoco stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $53.20, for a total transaction of $416,662.40. Following the sale, the insider now owns 77,890 shares in the company, valued at $4,143,748. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sunoco Stock Up 0.7 %

SUN opened at $61.20 on Tuesday. Sunoco LP has a fifty-two week low of $40.81 and a fifty-two week high of $63.96. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.68 and a quick ratio of 1.07. The firm’s fifty day moving average price is $58.29 and its two-hundred day moving average price is $52.17. The company has a market capitalization of $6.15 billion, a P/E ratio of 11.01 and a beta of 1.28.

Sunoco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.842 per share. The ex-dividend date is Tuesday, February 6th. This represents a $3.37 dividend on an annualized basis and a yield of 5.50%. Sunoco’s dividend payout ratio is currently 60.61%.

Analysts Set New Price Targets

SUN has been the topic of a number of recent analyst reports. Raymond James lifted their price target on shares of Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. StockNews.com upgraded shares of Sunoco from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Barclays raised their price objective on shares of Sunoco from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Citigroup upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $54.00 to $65.00 in a research note on Wednesday, January 24th. Finally, Mizuho raised their price objective on shares of Sunoco from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.67.

View Our Latest Stock Report on Sunoco

About Sunoco

(Free Report)

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The company's Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel to commission agent locations.

Further Reading

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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