Independent Advisor Alliance Sells 679 Shares of Sunoco LP (NYSE:SUN)

Independent Advisor Alliance lessened its stake in shares of Sunoco LP (NYSE:SUN) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,502 shares of the oil and gas company’s stock after selling 679 shares during the period. Independent Advisor Alliance’s holdings in Sunoco were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Independence Bank of Kentucky bought a new position in shares of Sunoco during the 4th quarter valued at about $53,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 182 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 788 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Sunoco by 90.6% during the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 819 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Sunoco by 112.5% during the 4th quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock valued at $126,000 after purchasing an additional 1,295 shares during the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Up 1.6 %

Shares of NYSE SUN opened at $58.81 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The company has a market cap of $8.98 billion, a P/E ratio of 8.91 and a beta of 1.35. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $62.55. The firm has a 50-day simple moving average of $56.49 and a two-hundred day simple moving average of $54.17.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. Research analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.8865 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 annualized dividend and a yield of 6.03%. This is an increase from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio (DPR) is presently 53.64%.

Analysts Set New Price Targets

SUN has been the subject of several research reports. Barclays increased their price objective on shares of Sunoco from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada increased their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Mizuho increased their price target on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Sunoco presently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

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.