Summit Financial LLC Acquires 5,212 Shares of Sunoco LP (NYSE:SUN)

Summit Financial LLC lifted its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,448 shares of the oil and gas company's stock after acquiring an additional 5,212 shares during the period. Summit Financial LLC owned approximately 0.05% of Sunoco worth $3,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SUN. Steward Partners Investment Advisory LLC lifted its stake in Sunoco by 17.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company's stock worth $64,000 after purchasing an additional 182 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Sunoco by 1.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company's stock valued at $570,000 after buying an additional 190 shares in the last quarter. Stifel Financial Corp grew its position in Sunoco by 0.8% in the third quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company's stock valued at $1,355,000 after acquiring an additional 194 shares during the last quarter. World Investment Advisors LLC raised its stake in Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company's stock worth $204,000 after acquiring an additional 200 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Sunoco by 2.6% in the third quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company's stock worth $517,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.

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Sunoco Trading Down 7.4 %

Shares of Sunoco stock traded down $4.24 during trading on Friday, hitting $52.76. The company's stock had a trading volume of 668,796 shares, compared to its average volume of 511,179. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 7.99 and a beta of 1.06. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. Sunoco LP has a 52 week low of $49.45 and a 52 week high of $59.67. The stock has a 50-day moving average price of $57.61 and a two-hundred day moving average price of $54.61.

Sunoco (NYSE:SUN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Equities research analysts anticipate 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 issued a dividend of $0.8865 per share. This is a positive change 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 annualized dividend and a yield of 6.72%. Sunoco's dividend payout ratio (DPR) is presently 53.64%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Finally, Barclays dropped their price target on Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $63.83.

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.