Duff & Phelps Investment Management Co. Grows Holdings in Sunoco LP (NYSE:SUN)

Duff & Phelps Investment Management Co. lifted its stake in Sunoco LP (NYSE:SUN - Free Report) by 405.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,662 shares of the oil and gas company's stock after buying an additional 76,727 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.06% of Sunoco worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SUN. Cetera Advisors LLC lifted its position in shares of Sunoco by 110.1% in the first quarter. Cetera Advisors LLC now owns 7,745 shares of the oil and gas company's stock valued at $467,000 after acquiring an additional 4,058 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Sunoco by 16.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,902 shares of the oil and gas company's stock worth $221,000 after purchasing an additional 564 shares during the period. Whitener Capital Management Inc. purchased a new stake in Sunoco during the 2nd quarter valued at approximately $269,000. Mcdonald Partners LLC raised its position in shares of Sunoco by 2.6% during the second quarter. Mcdonald Partners LLC now owns 15,388 shares of the oil and gas company's stock valued at $870,000 after buying an additional 388 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Sunoco by 3.3% in the second quarter. Apollon Wealth Management LLC now owns 44,013 shares of the oil and gas company's stock worth $2,488,000 after buying an additional 1,393 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Trading Down 1.4 %

SUN stock traded down $0.75 during midday trading on Tuesday, reaching $53.41. 335,190 shares of the company traded hands, compared to its average volume of 508,113. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 12.28 and a beta of 1.34. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The business has a 50 day moving average of $53.12 and a 200-day moving average of $53.70. 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 released its quarterly 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). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $6.09 billion. During the same quarter in the previous year, the company posted $2.95 EPS. The business's quarterly revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.56%. Sunoco's payout ratio is 80.46%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SUN. JPMorgan Chase & Co. boosted their price target on shares of Sunoco from $61.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 4th. Barclays boosted their target price on Sunoco from $60.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Royal Bank of Canada raised their price target on Sunoco from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.75.

About Sunoco

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.