Sunoco LP (SUN) Stake Decreased by Advisors Capital Management LLC
Advisors Capital Management LLC trimmed its stake in shares of Sunoco LP (NYSE:SUN) by 3.5% in the second quarter, HoldingsChannel.com reports. The fund owned 94,500 shares of the oil and gas company’s stock after selling 3,439 shares during the quarter. Advisors Capital Management LLC’s holdings in Sunoco were worth $2,359,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. lifted its position in shares of Sunoco by 2.6% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 798,000 shares of the oil and gas company’s stock valued at $19,918,000 after acquiring an additional 20,000 shares during the period. BlackRock Inc. lifted its position in shares of Sunoco by 6,579.2% during the 1st quarter. BlackRock Inc. now owns 677,603 shares of the oil and gas company’s stock valued at $17,285,000 after acquiring an additional 667,458 shares during the period. UBS Group AG lifted its position in shares of Sunoco by 1.1% during the 1st quarter. UBS Group AG now owns 444,523 shares of the oil and gas company’s stock valued at $11,339,000 after acquiring an additional 4,695 shares during the period. Adams Asset Advisors LLC lifted its position in shares of Sunoco by 10.6% during the 2nd quarter. Adams Asset Advisors LLC now owns 243,062 shares of the oil and gas company’s stock valued at $6,066,000 after acquiring an additional 23,383 shares during the period. Finally, Cadence Capital Management LLC lifted its position in shares of Sunoco by 46.9% during the 2nd quarter. Cadence Capital Management LLC now owns 198,390 shares of the oil and gas company’s stock valued at $4,952,000 after acquiring an additional 63,300 shares during the period. Hedge funds and other institutional investors own 28.61% of the company’s stock.
Sunoco stock opened at $27.33 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.07 and a debt-to-equity ratio of 2.84. Sunoco LP has a 52 week low of $24.46 and a 52 week high of $33.11. The firm has a market cap of $2.68 billion, a PE ratio of 11.93 and a beta of 0.79.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Tuesday, August 7th were issued a $0.8255 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $3.30 dividend on an annualized basis and a yield of 12.08%. Sunoco’s payout ratio is presently 144.10%.
A number of equities analysts have recently commented on SUN shares. B. Riley set a $32.00 price target on Sunoco and gave the stock a “hold” rating in a report on Monday, June 4th. Jefferies Financial Group raised Sunoco from an “underperform” rating to a “hold” rating and set a $30.00 price target for the company in a report on Wednesday, July 18th. TheStreet cut Sunoco from a “b-” rating to a “c” rating in a report on Thursday, May 10th. ValuEngine cut Sunoco from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Finally, Raymond James reissued a “buy” rating on shares of Sunoco in a report on Monday, August 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.02.
Sunoco LP, together with its subsidiaries, engages in the wholesale distribution and retail sale of motor fuels primarily in the United States. The company operates through two segments, Wholesale and Retail. It serves convenience stores and commission agent locations, contracted independent convenience store operators, and other commercial customers.
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