Tyche Wealth Partners LLC Makes New Investment in Sunoco LP (NYSE:SUN)

Tyche Wealth Partners LLC bought a new position in shares of Sunoco LP (NYSE:SUN) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,777 shares of the oil and gas company’s stock, valued at approximately $226,000.

Several other institutional investors also recently made changes to their positions in the stock. Good Life Advisors LLC raised its stake in shares of Sunoco by 2.1% during the 4th quarter. Good Life Advisors LLC now owns 8,173 shares of the oil and gas company’s stock worth $490,000 after buying an additional 166 shares during the last quarter. Brookstone Capital Management raised its stake in Sunoco by 1.9% in the 4th quarter. Brookstone Capital Management now owns 10,013 shares of the oil and gas company’s stock valued at $600,000 after purchasing an additional 184 shares during the last quarter. International Assets Investment Management LLC raised its stake in Sunoco by 1.7% in the 1st quarter. International Assets Investment Management LLC now owns 15,519 shares of the oil and gas company’s stock valued at $634,000 after purchasing an additional 266 shares during the last quarter. Compass Wealth Management LLC raised its stake in Sunoco by 60.0% in the 3rd quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 300 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Sunoco by 1.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,371 shares of the oil and gas company’s stock valued at $938,000 after purchasing an additional 339 shares during the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SUN has been the subject of several analyst reports. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Wells Fargo & Company upped their price objective on shares of Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 20th. Citigroup downgraded shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Tuesday, February 27th. Raymond James upped their price objective on shares of Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.71.

Sunoco Stock Up 0.8 %

Shares of NYSE:SUN opened at $54.44 on Friday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. Sunoco LP has a 1 year low of $41.95 and a 1 year high of $64.89. The stock has a market capitalization of $5.49 billion, a P/E ratio of 14.96 and a beta of 1.27. The stock has a 50-day simple moving average of $60.12 and a 200-day simple moving average of $56.82.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts forecast that Sunoco LP will post 4.99 earnings per share for the current year.

Sunoco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a $0.842 dividend. This represents a $3.37 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend was Tuesday, February 6th. Sunoco’s dividend payout ratio is presently 92.58%.

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.