Sunoco LP (NYSE:SUN) Shares Bought by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lifted its position in shares of Sunoco LP (NYSE:SUN) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,000 shares of the oil and gas company’s stock after acquiring an additional 13,600 shares during the period. Chickasaw Capital Management LLC owned about 0.05% of Sunoco worth $3,961,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in shares of Sunoco by 40.8% during the second quarter. Private Advisor Group LLC now owns 52,064 shares of the oil and gas company’s stock worth $2,944,000 after purchasing an additional 15,087 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Sunoco during the 2nd quarter worth approximately $3,856,000. Wedbush Securities Inc. lifted its stake in Sunoco by 2.1% in the second quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock valued at $597,000 after buying an additional 218 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Sunoco in the 2nd quarter valued at about $32,000. Finally, HHM Wealth Advisors LLC bought a new position in Sunoco in the 2nd quarter worth about $93,000. 24.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SUN. Royal Bank of Canada raised their target price on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays upped their price objective on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.75.

Sunoco Price Performance

NYSE:SUN traded down $0.70 during trading hours on Tuesday, reaching $51.60. 198,681 shares of the company’s stock were exchanged, compared to its average volume of 286,740. The company has a market capitalization of $7.86 billion, a P/E ratio of 11.86 and a beta of 1.36. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89. The business’s 50-day simple moving average is $52.86 and its two-hundred day simple moving average is $53.64. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the firm earned $2.95 earnings per share. Sell-side analysts expect that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.8756 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.79%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

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.