Chickasaw Capital Management LLC Raises Holdings in Sunoco LP $SUN

Chickasaw Capital Management LLC raised its holdings in shares of Sunoco LP (NYSE:SUN) by 58.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,429 shares of the oil and gas company’s stock after buying an additional 84,000 shares during the quarter. Sunoco comprises about 0.5% of Chickasaw Capital Management LLC’s portfolio, making the stock its 22nd biggest holding. Chickasaw Capital Management LLC owned approximately 0.15% of Sunoco worth $11,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new position in shares of Sunoco during the 2nd quarter worth $41,000. Bessemer Group Inc. increased its position in shares of Sunoco by 41.7% in the 2nd quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 400 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Sunoco by 95.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock worth $74,000 after acquiring an additional 675 shares in the last quarter. State of Wyoming purchased a new stake in Sunoco during the second quarter worth approximately $111,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Sunoco by 110.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,069 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on SUN. Raymond James Financial restated an “outperform” rating and issued a $70.00 price objective on shares of Sunoco in a research note on Wednesday, November 5th. Barclays reissued an “overweight” rating and issued a $57.00 price objective on shares of Sunoco in a report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Sunoco in a research report on Monday. Wells Fargo & Company set a $65.00 price objective on Sunoco and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Mizuho reduced their price objective on shares of Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Sunoco Price Performance

Shares of NYSE SUN opened at $52.52 on Thursday. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 17.93 and a beta of 0.49. The business has a 50-day moving average of $53.24 and a 200-day moving average of $52.59. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $59.88. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.11 and a quick ratio of 2.50.

Sunoco (NYSE:SUN) last posted its quarterly earnings data 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 business had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Sunoco had a return on equity of 13.94% and a net margin of 2.61%.Sunoco’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. On average, equities analysts anticipate that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Thursday, October 30th were issued a dividend of $0.9202 per share. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $3.68 annualized dividend and a yield of 7.0%. This is an increase from Sunoco’s previous quarterly dividend of $0.91. Sunoco’s dividend payout ratio (DPR) is 125.60%.

Sunoco Company 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.