Sunoco LP $SUN Stock Position Increased by Adams Asset Advisors LLC

Adams Asset Advisors LLC lifted its position in shares of Sunoco LP (NYSE:SUN) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 571,547 shares of the oil and gas company’s stock after buying an additional 2,274 shares during the quarter. Sunoco comprises 4.3% of Adams Asset Advisors LLC’s holdings, making the stock its 3rd biggest position. Adams Asset Advisors LLC’s holdings in Sunoco were worth $30,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming purchased a new position in Sunoco during the fourth quarter worth approximately $102,000. Northwestern Mutual Wealth Management Co. grew its stake in Sunoco by 110.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 1,069 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Sunoco by 17.1% in the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company’s stock worth $166,000 after buying an additional 419 shares during the last quarter. McIlrath & Eck LLC bought a new stake in shares of Sunoco in the 1st quarter worth about $199,000. Finally, Retirement Income Solutions Inc bought a new stake in Sunoco in the first quarter valued at about $203,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SUN. Mizuho dropped their target price on shares of Sunoco from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. JPMorgan Chase & Co. lifted their target price on Sunoco from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $64.50.

Sunoco Trading Down 0.7%

Shares of NYSE:SUN opened at $50.15 on Monday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 24.71 and a beta of 0.58. The company has a 50 day moving average price of $52.44 and a 200 day moving average price of $54.57. Sunoco LP has a 1-year low of $48.00 and a 1-year high of $59.88.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.35). The company had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the firm earned $3.85 earnings per share. On average, research analysts anticipate that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a dividend of $0.9088 per share. This represents a $3.64 annualized dividend and a yield of 7.2%. The ex-dividend date was Friday, August 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.90. Sunoco’s dividend payout ratio is presently 179.31%.

Sunoco 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.