International Assets Investment Management LLC Acquires 562,435 Shares of Sunoco LP (NYSE:SUN)

International Assets Investment Management LLC boosted its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 5,437.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 572,779 shares of the oil and gas company's stock after purchasing an additional 562,435 shares during the quarter. International Assets Investment Management LLC owned about 0.38% of Sunoco worth $30,747,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its position in shares of Sunoco by 26,345.6% during the second 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 in the last quarter. Clearbridge Investments LLC increased its holdings in Sunoco by 176.6% in the 2nd quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company's stock worth $39,591,000 after buying an additional 447,072 shares in the last quarter. Miller Howard Investments Inc. NY raised its position in Sunoco by 33.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 583,323 shares of the oil and gas company's stock worth $32,981,000 after buying an additional 146,152 shares during the last quarter. Adams Asset Advisors LLC boosted its holdings 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 valued at $32,315,000 after acquiring an additional 258,103 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Sunoco by 42.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 276,829 shares of the oil and gas company's stock worth $15,652,000 after acquiring an additional 83,008 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sunoco Stock Performance

Shares of SUN stock traded down $0.18 during trading hours on Tuesday, reaching $51.66. 528,887 shares of the company traded hands, compared to its average volume of 523,092. The firm has a 50-day moving average price of $53.08 and a 200 day moving average price of $53.89. The company has a market cap of $7.87 billion, a P/E ratio of 6.83 and a beta of 1.30. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. Sunoco LP has a 12-month low of $49.00 and a 12-month high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $1.23 by $2.62. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, sell-side analysts predict that Sunoco LP will post 8.07 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a $0.8756 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a yield of 6.78%. Sunoco's payout ratio is presently 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.