Recurrent Investment Advisors LLC Increases Position in Sunoco LP $SUN

Recurrent Investment Advisors LLC raised its position in shares of Sunoco LP (NYSE:SUN) by 51.5% during the first quarter, HoldingsChannel reports. The firm owned 1,027,877 shares of the oil and gas company’s stock after purchasing an additional 349,254 shares during the period. Sunoco makes up approximately 4.0% of Recurrent Investment Advisors LLC’s holdings, making the stock its 11th biggest holding. Recurrent Investment Advisors LLC’s holdings in Sunoco were worth $66,781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC increased its position in shares of Sunoco by 34.1% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 972,935 shares of the oil and gas company’s stock valued at $63,212,000 after purchasing an additional 247,569 shares during the last quarter. Gateway Wealth Partners LLC purchased a new stake in Sunoco in the first quarter worth approximately $227,000. Waverly Advisors LLC grew its position in Sunoco by 5.3% during the first quarter. Waverly Advisors LLC now owns 132,058 shares of the oil and gas company’s stock valued at $8,580,000 after acquiring an additional 6,607 shares during the last quarter. Lido Advisors LLC bought a new position in Sunoco during the first quarter valued at approximately $397,000. Finally, Cetera Investment Advisers raised its stake in shares of Sunoco by 15.1% during the first quarter. Cetera Investment Advisers now owns 62,560 shares of the oil and gas company’s stock worth $4,065,000 after acquiring an additional 8,211 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Stock Performance

Sunoco stock opened at $76.55 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average of $68.32 and a 200-day moving average of $64.96. The firm has a market cap of $15.68 billion, a P/E ratio of 19.58 and a beta of 0.42. Sunoco LP has a 1-year low of $47.98 and a 1-year high of $77.03.

Sunoco (NYSE:SUN) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The company had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same period last year, the firm earned $1.21 earnings per share. Sunoco’s quarterly revenue was up 106.4% on a year-over-year basis. Sell-side analysts expect that Sunoco LP will post 7.73 EPS for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be given a $1.0023 dividend. The ex-dividend date is Friday, August 7th. This represents a $4.01 dividend on an annualized basis and a dividend yield of 5.2%. This is an increase from Sunoco’s previous quarterly dividend of $0.99. Sunoco’s dividend payout ratio is 101.28%.

Analyst Upgrades and Downgrades

SUN has been the topic of several recent research reports. Mizuho set a $83.00 target price on shares of Sunoco in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Sunoco from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Raymond James Financial restated a “strong-buy” rating and set a $80.00 target price on shares of Sunoco in a report on Wednesday, May 6th. Weiss Ratings raised Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 21st. Finally, Barclays boosted their price objective on Sunoco from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $77.12.

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.