Sunoco LP (NYSE:SUN) Shares Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC raised its position in Sunoco LP (NYSE:SUN - Free Report) by 128.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,886 shares of the oil and gas company's stock after acquiring an additional 12,326 shares during the quarter. Crescent Grove Advisors LLC's holdings in Sunoco were worth $1,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Sunoco by 26,345.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company's stock valued at $76,406,000 after acquiring an additional 1,346,258 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Sunoco by 176.6% in the second quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company's stock valued at $39,591,000 after purchasing an additional 447,072 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in Sunoco by 33.4% in the second quarter. Miller Howard Investments Inc. NY now owns 583,323 shares of the oil and gas company's stock valued at $32,981,000 after purchasing an additional 146,152 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Sunoco by 5,437.3% during the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company's stock worth $30,747,000 after purchasing an additional 562,435 shares in the last quarter. Finally, Adams Asset Advisors LLC lifted its position in shares of Sunoco by 82.3% during the 2nd quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company's stock worth $32,315,000 after buying an additional 258,103 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SUN shares. StockNews.com lowered shares of Sunoco from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on Sunoco from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Barclays decreased their target price on Sunoco from $61.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their price target on Sunoco from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.25.

Sunoco Stock Performance

Shares of SUN stock traded up $1.10 during midday trading on Wednesday, hitting $54.36. The company had a trading volume of 970,961 shares, compared to its average volume of 522,568. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 7.03 and a beta of 1.31. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. The company's 50 day simple moving average is $52.84 and its 200 day simple moving average is $53.83. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $2.62. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. Sunoco's quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS. Research analysts anticipate that Sunoco LP will post 8.07 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a $0.8756 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Friday, November 8th. Sunoco's payout ratio is 46.30%.

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.