Texas Yale Capital Corp. Buys 31,050 Shares of Sunoco LP $SUN

Texas Yale Capital Corp. increased its stake in Sunoco LP (NYSE:SUN) by 34.2% in the third quarter, Holdings Channel reports. The institutional investor owned 121,716 shares of the oil and gas company’s stock after acquiring an additional 31,050 shares during the period. Texas Yale Capital Corp.’s holdings in Sunoco were worth $6,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of Sunoco by 2.6% in the third quarter. Alps Advisors Inc. now owns 24,089,484 shares of the oil and gas company’s stock valued at $1,204,715,000 after acquiring an additional 599,655 shares during the period. Energy Income Partners LLC grew its holdings in Sunoco by 4.1% during the 2nd quarter. Energy Income Partners LLC now owns 1,883,992 shares of the oil and gas company’s stock valued at $100,963,000 after purchasing an additional 73,696 shares during the last quarter. Miller Howard Investments Inc. NY raised its position in Sunoco by 0.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 694,880 shares of the oil and gas company’s stock worth $34,751,000 after purchasing an additional 3,784 shares during the period. Neuberger Berman Group LLC raised its position in Sunoco by 4.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 670,269 shares of the oil and gas company’s stock worth $35,920,000 after purchasing an additional 25,757 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in Sunoco by 5.5% in the second quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company’s stock worth $19,611,000 after purchasing an additional 18,990 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SUN. Barclays set a $60.00 target price on Sunoco and gave the company an “overweight” rating in a research note on Friday, February 6th. Zacks Research lowered Sunoco from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Raymond James Financial upgraded Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Monday, January 5th. Weiss Ratings upgraded shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company set a $65.00 price objective on shares of Sunoco and gave the company an “overweight” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $65.60.

Sunoco Price Performance

SUN opened at $59.50 on Monday. Sunoco LP has a 12-month low of $47.98 and a 12-month high of $60.62. The company has a current ratio of 3.11, a quick ratio of 2.50 and a debt-to-equity ratio of 2.33. The business’s fifty day simple moving average is $55.56 and its 200-day simple moving average is $53.36. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 20.31 and a beta of 0.51.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be given a dividend of $0.9317 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, February 6th. This represents a $3.73 dividend on an annualized basis and a yield of 6.3%. Sunoco’s payout ratio is 127.30%.

Sunoco Company 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.