Independence Bank of Kentucky Takes Position in Sunoco LP (NYSE:SUN)

Independence Bank of Kentucky acquired a new position in Sunoco LP (NYSE:SUN) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,022 shares of the oil and gas company’s stock, valued at approximately $53,000.

Other large investors have also recently added to or reduced their stakes in the company. Caprock Group LLC purchased a new stake in shares of Sunoco in the fourth quarter valued at about $569,000. Kingswood Wealth Advisors LLC purchased a new stake in Sunoco in the 4th quarter valued at approximately $204,000. M.E. Allison & CO. Inc. acquired a new stake in Sunoco during the 4th quarter valued at $542,000. Ameritas Advisory Services LLC increased its position in Sunoco by 6.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 4,940 shares of the oil and gas company’s stock worth $254,000 after buying an additional 282 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its holdings in shares of Sunoco by 15.4% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,255 shares of the oil and gas company’s stock worth $528,000 after acquiring an additional 1,371 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SUN has been the subject of a number of recent research reports. Barclays lifted their price objective on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Royal Bank of Canada lifted their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.43.

Sunoco Stock Down 2.8 %

SUN opened at $56.39 on Monday. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 12.96 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 company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The business has a 50-day moving average of $53.58 and a two-hundred day moving average of $53.33.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the company posted $2.95 EPS. On average, research analysts expect that Sunoco LP will post 9.63 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.8865 per share. This represents a $3.55 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s payout ratio is 80.46%.

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.