Greenland Capital Management LP Makes New $526,000 Investment in Sunoco LP (NYSE:SUN)

Greenland Capital Management LP purchased a new stake in Sunoco LP (NYSE:SUN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,230 shares of the oil and gas company's stock, valued at approximately $526,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new position in Sunoco in the 4th quarter valued at $53,000. Steward Partners Investment Advisory LLC grew its position in Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company's stock worth $64,000 after acquiring an additional 182 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Sunoco by 93.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company's stock worth $84,000 after purchasing an additional 788 shares during the last quarter. Huntington National Bank increased its position in Sunoco by 440.3% in the 4th quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company's stock valued at $92,000 after acquiring an additional 1,453 shares during the period. Finally, Allworth Financial LP increased its holdings in Sunoco by 90.6% in the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company's stock valued at $95,000 after purchasing an additional 819 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SUN has been the subject of several analyst reports. Mizuho raised their price target on shares of Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Barclays reduced their price target on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Sunoco presently has a consensus rating of "Moderate Buy" and an average price target of $63.83.

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Sunoco Stock Performance

Shares of NYSE SUN traded up $0.53 during trading on Monday, reaching $54.40. 104,343 shares of the stock traded hands, compared to its average volume of 477,290. The stock has a market capitalization of $8.30 billion, a P/E ratio of 8.24 and a beta of 1.06. Sunoco LP has a 52-week low of $48.00 and a 52-week high of $59.67. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The company has a 50-day moving average of $56.92 and a 200-day moving average of $54.54.

Sunoco (NYSE:SUN - Get Free Report) last posted its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.8865 per share. This is an increase from Sunoco's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.52%. Sunoco's dividend payout ratio (DPR) is presently 53.64%.

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.