Sunoco LP (NYSE:SUN) Stake Boosted by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lifted its stake in Sunoco LP (NYSE:SUN) by 21.5% during the fourth quarter, HoldingsChannel reports. The fund owned 77,000 shares of the oil and gas company’s stock after purchasing an additional 13,600 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Sunoco were worth $3,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its position in Sunoco by 1.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock worth $570,000 after purchasing an additional 190 shares during the last quarter. Stifel Financial Corp increased its holdings in Sunoco by 0.8% in the third quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock worth $1,355,000 after buying an additional 194 shares during the last quarter. Tyche Wealth Partners LLC raised its position in Sunoco by 5.4% during the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after acquiring an additional 200 shares in the last quarter. World Investment Advisors LLC lifted its stake in Sunoco by 5.6% in the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after acquiring an additional 200 shares during the last quarter. Finally, Wedbush Securities Inc. grew its position in Sunoco by 2.1% in the second quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock worth $597,000 after acquiring an additional 218 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on SUN. Barclays lifted their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Sunoco presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

Sunoco Stock Performance

SUN stock traded down $0.70 during midday trading on Tuesday, hitting $51.60. The stock had a trading volume of 198,681 shares, compared to its average volume of 286,740. Sunoco LP has a 52 week low of $49.45 and a 52 week high of $64.89. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a 50-day simple moving average of $52.86 and a 200 day simple moving average of $53.64. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 11.86 and a beta of 1.36.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. Sunoco’s revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 earnings per share. As a group, equities research analysts anticipate that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.8756 per share. The ex-dividend date was Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.79%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

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.