Cetera Investment Advisers Has $1.92 Million Stock Holdings in Sunoco LP $SUN

Cetera Investment Advisers grew its holdings in shares of Sunoco LP (NYSE:SUN) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,902 shares of the oil and gas company’s stock after buying an additional 2,416 shares during the quarter. Cetera Investment Advisers’ holdings in Sunoco were worth $1,924,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Asset Planning Inc. bought a new position in Sunoco in the 2nd quarter valued at about $41,000. Bessemer Group Inc. raised its stake in shares of Sunoco by 41.7% in the second quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock worth $72,000 after purchasing an additional 400 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Sunoco by 95.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock valued at $74,000 after purchasing an additional 675 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sunoco by 110.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 1,069 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new position in shares of Sunoco during the first quarter valued at approximately $199,000. 24.29% of the stock is owned by institutional investors.

Sunoco Stock Performance

Shares of SUN stock opened at $55.85 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 27.51 and a beta of 0.55. Sunoco LP has a 52 week low of $47.98 and a 52 week high of $59.88. The firm’s 50-day simple moving average is $52.21 and its two-hundred day simple moving average is $52.75.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.90). The company had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.26) EPS. As a group, equities analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Thursday, October 30th were paid a $0.9202 dividend. The ex-dividend date was Thursday, October 30th. This is a boost from Sunoco’s previous quarterly dividend of $0.91. This represents a $3.68 annualized dividend and a dividend yield of 6.6%. Sunoco’s dividend payout ratio is presently 125.60%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company set a $65.00 price target on Sunoco and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sunoco in a report on Monday, November 24th. Raymond James Financial reissued an “outperform” rating and set a $70.00 price target on shares of Sunoco in a research report on Wednesday, November 5th. Zacks Research downgraded shares of Sunoco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, Barclays reiterated an “overweight” rating and issued a $57.00 price objective on shares of Sunoco in a research note on Monday, November 17th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.83.

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.