Exchange Traded Concepts LLC Buys 18,123 Shares of Sunoco LP $SUN

Exchange Traded Concepts LLC raised its stake in Sunoco LP (NYSE:SUN) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,679 shares of the oil and gas company’s stock after buying an additional 18,123 shares during the period. Exchange Traded Concepts LLC owned about 0.06% of Sunoco worth $6,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Sunoco by 6.4% during the first quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company’s stock valued at $9,239,000 after acquiring an additional 9,592 shares in the last quarter. Cetera Investment Advisers grew its stake in Sunoco by 7.2% in the second quarter. Cetera Investment Advisers now owns 35,902 shares of the oil and gas company’s stock worth $1,924,000 after purchasing an additional 2,416 shares in the last quarter. NBW Capital LLC grew its stake in Sunoco by 1.9% in the second quarter. NBW Capital LLC now owns 76,009 shares of the oil and gas company’s stock worth $4,073,000 after purchasing an additional 1,431 shares in the last quarter. Crescent Grove Advisors LLC increased its holdings in Sunoco by 68.3% during the 2nd quarter. Crescent Grove Advisors LLC now owns 43,419 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 17,614 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Sunoco by 10.9% during the 2nd quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company’s stock worth $652,000 after purchasing an additional 1,201 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Raymond James Financial upgraded Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective for the company in a report on Monday, January 5th. Wells Fargo & Company upped their price objective on shares of Sunoco from $67.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Zacks Research downgraded shares of Sunoco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.83.

Sunoco Trading Down 0.0%

NYSE SUN opened at $66.99 on Monday. Sunoco LP has a 52 week low of $47.98 and a 52 week high of $67.82. The company has a 50 day moving average price of $61.50 and a 200 day moving average price of $55.82. The company has a quick ratio of 0.78, a current ratio of 1.38 and a debt-to-equity ratio of 2.06. The firm has a market cap of $13.72 billion, a PE ratio of 29.51 and a beta of 0.49.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($1.55). Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $9.65 billion. During the same quarter last year, the business earned $0.75 earnings per share. Sunoco’s revenue was up 63.2% on a year-over-year basis. As a group, sell-side analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a $0.9317 dividend. This represents a $3.73 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, February 6th. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. Sunoco’s payout ratio is 164.32%.

Sunoco Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.