Teamwork Financial Advisors LLC Makes New $270,000 Investment in Sunoco LP (NYSE:SUN)

Teamwork Financial Advisors LLC bought a new stake in shares of Sunoco LP (NYSE:SUN – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,027 shares of the oil and gas company’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Good Life Advisors LLC lifted its position in Sunoco by 4.4% during the 3rd quarter. Good Life Advisors LLC now owns 8,722 shares of the oil and gas company’s stock valued at $468,000 after acquiring an additional 370 shares during the period. Creative Planning lifted its holdings in shares of Sunoco by 17.8% during the third 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 last quarter. Carnegie Investment Counsel lifted its holdings in shares of Sunoco by 7.9% during the third quarter. Carnegie Investment Counsel now owns 5,779 shares of the oil and gas company’s stock valued at $310,000 after purchasing an additional 425 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Sunoco by 7.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 128,171 shares of the oil and gas company’s stock worth $6,880,000 after purchasing an additional 8,494 shares in the last quarter. Finally, Chickasaw Capital Management LLC grew its stake in shares of Sunoco by 10.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 63,400 shares of the oil and gas company’s stock worth $3,403,000 after buying an additional 5,800 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SUN has been the topic of several analyst reports. Barclays dropped their target price on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada lifted their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunoco presently has an average rating of “Moderate Buy” and a consensus price target of $62.25.

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Sunoco Stock Up 0.4 %

Shares of NYSE SUN opened at $52.09 on Friday. The firm has a 50-day simple moving average of $53.08 and a two-hundred day simple moving average of $54.19. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. The company has a market cap of $7.94 billion, a P/E ratio of 6.89 and a beta of 1.30. Sunoco LP has a 1 year low of $49.00 and a 1 year high of $64.89.

Sunoco (NYSE:SUN – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $2.62. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Research analysts anticipate that Sunoco LP will post 8.09 earnings per share for the current year.

Sunoco Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.8756 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.72%. The ex-dividend date of this dividend was Friday, August 9th. Sunoco’s payout ratio is 46.30%.

Sunoco Profile

(Free Report)

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.