Bison Wealth LLC Takes Position in Sunoco LP (NYSE:SUN)

Bison Wealth LLC purchased a new stake in Sunoco LP (NYSE:SUN) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,487 shares of the oil and gas company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SUN. International Assets Investment Management LLC boosted its holdings in shares of Sunoco by 6,075.4% in the fourth quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock valued at $34,419,000 after buying an additional 565,015 shares during the period. BNP Paribas Arbitrage SA acquired a new position in Sunoco during the first quarter worth $7,314,000. Miller Howard Investments Inc. NY raised its position in Sunoco by 56.5% during the third quarter. Miller Howard Investments Inc. NY now owns 350,787 shares of the oil and gas company’s stock worth $17,171,000 after acquiring an additional 126,626 shares in the last quarter. Wells Fargo & Company MN raised its position in Sunoco by 104.4% during the fourth quarter. Wells Fargo & Company MN now owns 243,477 shares of the oil and gas company’s stock worth $10,494,000 after acquiring an additional 124,362 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Sunoco by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 1,384,765 shares of the oil and gas company’s stock worth $67,784,000 after acquiring an additional 122,388 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Trading Up 5.6 %

SUN stock opened at $54.00 on Thursday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. The company’s 50-day simple moving average is $60.25 and its 200 day simple moving average is $56.83. Sunoco LP has a 52 week low of $41.95 and a 52 week high of $64.89. The company has a market capitalization of $5.45 billion, a PE ratio of 14.84 and a beta of 1.27.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of $0.96 by ($2.46). Sunoco had a net margin of 1.71% and a return on equity of 37.91%. The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the company posted $0.42 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Sunoco LP will post 4.99 earnings per share for the current year.

Sunoco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.842 per share. The ex-dividend date was Tuesday, February 6th. This represents a $3.37 dividend on an annualized basis and a yield of 6.24%. Sunoco’s payout ratio is 92.58%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SUN shares. JPMorgan Chase & Co. upped their price target on shares of Sunoco from $53.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Barclays upped their price target on shares of Sunoco from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Stifel Nicolaus lowered shares of Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research report on Tuesday, February 20th. Wells Fargo & Company increased their price objective on shares of Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 20th. Finally, Raymond James increased their price objective 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sunoco has a consensus rating of “Hold” and an average target price of $62.71.

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.