Wealth Alliance LLC Makes New $298,000 Investment in Sunoco LP $SUN

Wealth Alliance LLC purchased a new stake in Sunoco LP (NYSE:SUN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,561 shares of the oil and gas company’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new position in shares of Sunoco in the second quarter valued at about $41,000. Bessemer Group Inc. raised its holdings in Sunoco by 41.7% in the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 400 shares during the period. Parkside Financial Bank & Trust raised its holdings in Sunoco by 95.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock valued at $74,000 after acquiring an additional 675 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Sunoco by 110.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 1,069 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Sunoco by 17.1% during the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company’s stock worth $166,000 after acquiring an additional 419 shares during the period. 24.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SUN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Sunoco from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Zacks Research cut Sunoco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Wells Fargo & Company set a $65.00 price target on Sunoco and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and issued a $70.00 price target on shares of Sunoco in a research report on Wednesday, November 5th. Finally, Mizuho reduced their price objective on shares of Sunoco from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Friday, August 29th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunoco presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Sunoco Stock Performance

Shares of SUN opened at $51.05 on Friday. The firm’s fifty day simple moving average is $51.21 and its two-hundred day simple moving average is $52.91. Sunoco LP has a 12 month low of $47.98 and a 12 month high of $59.88. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $7.81 billion, a P/E ratio of 25.15 and a beta of 0.55.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.90). Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The business had revenue of $31.00 million for the quarter, compared to analyst estimates of $5.59 billion. During the same period in the prior year, the business earned ($0.26) EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Thursday, October 30th will be paid a dividend of $0.9202 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.91. This represents a $3.68 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Thursday, October 30th. Sunoco’s payout ratio is currently 125.60%.

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.