IFG Advisory LLC Has $280,000 Position in Sunoco LP $SUN

IFG Advisory LLC lessened its holdings in Sunoco LP (NYSE:SUN) by 59.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,595 shares of the oil and gas company’s stock after selling 8,160 shares during the period. IFG Advisory LLC’s holdings in Sunoco were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. increased its holdings in shares of Sunoco by 2.6% in the third quarter. Alps Advisors Inc. now owns 24,089,484 shares of the oil and gas company’s stock valued at $1,204,715,000 after purchasing an additional 599,655 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in shares of Sunoco by 470.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 113,263 shares of the oil and gas company’s stock worth $6,070,000 after buying an additional 93,394 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Sunoco by 58.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 228,429 shares of the oil and gas company’s stock worth $11,424,000 after buying an additional 84,000 shares during the period. Energy Income Partners LLC grew its stake in Sunoco by 4.1% in the 2nd quarter. Energy Income Partners LLC now owns 1,883,992 shares of the oil and gas company’s stock valued at $100,963,000 after buying an additional 73,696 shares during the last quarter. Finally, Texas Yale Capital Corp. grew its stake in Sunoco by 34.2% in the 3rd quarter. Texas Yale Capital Corp. now owns 121,716 shares of the oil and gas company’s stock valued at $6,087,000 after buying an additional 31,050 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Trading Down 0.3%

Shares of NYSE:SUN opened at $64.20 on Monday. The business’s 50 day simple moving average is $58.42 and its 200 day simple moving average is $54.39. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $65.24. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.38 and a quick ratio of 0.78. The company has a market capitalization of $13.15 billion, a P/E ratio of 28.28 and a beta of 0.49.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). The company had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $9.65 billion. Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The business’s revenue was up 63.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 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 Thursday, February 19th. Investors of record on Friday, February 6th were given a dividend of $0.9317 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, February 6th. Sunoco’s dividend payout ratio (DPR) is currently 164.32%.

Analyst Ratings Changes

Several research firms have recently commented on SUN. Weiss Ratings downgraded Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Stifel Nicolaus boosted their price target on Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Barclays set a $63.00 price objective on Sunoco in a research report on Friday, February 20th. Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Zacks Research downgraded shares of Sunoco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.17.

Sunoco Profile

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.