Strategic Financial Concepts LLC Takes $3.38 Million Position in Sunoco LP (NYSE:SUN)

Strategic Financial Concepts LLC bought a new position in Sunoco LP (NYSE:SUN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 65,616 shares of the oil and gas company’s stock, valued at approximately $3,375,000.

A number of other large investors have also added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its stake in shares of Sunoco by 39.6% in the 2nd quarter. Cetera Investment Advisers now owns 30,901 shares of the oil and gas company’s stock worth $1,747,000 after buying an additional 8,764 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Sunoco by 7.1% in the third quarter. Exchange Traded Concepts LLC now owns 128,171 shares of the oil and gas company’s stock valued at $6,880,000 after acquiring an additional 8,494 shares during the period. Carnegie Investment Counsel boosted its position in Sunoco by 7.9% in the third quarter. Carnegie Investment Counsel now owns 5,779 shares of the oil and gas company’s stock worth $310,000 after purchasing an additional 425 shares during the last quarter. Creative Planning grew its stake in shares of Sunoco by 17.8% during the 3rd quarter. Creative Planning now owns 30,650 shares of the oil and gas company’s stock valued at $1,645,000 after purchasing an additional 4,632 shares during the period. Finally, Good Life Advisors LLC lifted its stake in shares of Sunoco by 4.4% in the 3rd quarter. Good Life Advisors LLC now owns 8,722 shares of the oil and gas company’s stock worth $468,000 after purchasing an additional 370 shares during the period. Institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Mizuho boosted their price objective on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Barclays raised their target price on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and an average target price of $63.43.

Sunoco Stock Performance

Shares of NYSE SUN opened at $56.31 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89. The firm has a fifty day moving average price of $53.91 and a 200-day moving average price of $53.37. The stock has a market cap of $8.58 billion, a PE ratio of 12.94 and a beta of 1.36.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.8865 per share. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a yield of 6.30%. Sunoco’s dividend payout ratio (DPR) is currently 81.38%.

Sunoco 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.