65,616 Shares in Sunoco LP (NYSE:SUN) Bought by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC purchased a new position in Sunoco LP (NYSE:SUN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 65,616 shares of the oil and gas company's stock, valued at approximately $3,375,000.

A number of other hedge funds also recently modified their holdings of the stock. Sanctuary Advisors LLC boosted its stake in Sunoco by 11.7% in the third quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company's stock valued at $5,236,000 after buying an additional 10,080 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Sunoco by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company's stock valued at $117,644,000 after buying an additional 455,361 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Sunoco by 5,437.3% in the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company's stock valued at $30,747,000 after buying an additional 562,435 shares in the last quarter. Avid Wealth Partners LLC acquired a new stake in shares of Sunoco during the third quarter valued at about $850,000. Finally, FORA Capital LLC acquired a new stake in shares of Sunoco during the third quarter valued at about $524,000. Institutional investors own 24.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SUN. Barclays lifted their price target on Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their price target on Sunoco from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, Mizuho lifted their price target on Sunoco from $61.00 to $66.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.43.

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Sunoco Trading Down 0.5 %

Shares of Sunoco stock traded down $0.27 during midday trading on Thursday, reaching $58.03. The company had a trading volume of 327,779 shares, compared to its average volume of 561,296. The stock has a fifty day moving average price of $54.30 and a 200 day moving average price of $53.52. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The firm has a market cap of $8.84 billion, a PE ratio of 8.79 and a beta of 1.36. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 24.03% and a net margin of 3.85%. On average, equities analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.8865 dividend. This is an increase from Sunoco's previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date was Friday, February 7th. Sunoco's payout ratio is presently 53.79%.

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.