FORA Capital LLC Acquires Shares of 9,762 Sunoco LP (NYSE:SUN)

FORA Capital LLC bought a new stake in Sunoco LP (NYSE:SUN) during the 3rd quarter, Holdings Channel.com reports. The fund bought 9,762 shares of the oil and gas company’s stock, valued at approximately $524,000.

Several other hedge funds have also recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Sunoco by 26,345.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company’s stock valued at $76,406,000 after buying an additional 1,346,258 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Sunoco by 5,437.3% during the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after buying an additional 562,435 shares during the last quarter. Clearbridge Investments LLC raised its position in Sunoco by 176.6% in the second quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company’s stock valued at $39,591,000 after purchasing an additional 447,072 shares during the period. Adams Asset Advisors LLC boosted its stake in shares of Sunoco by 82.3% in the second quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company’s stock valued at $32,315,000 after purchasing an additional 258,103 shares during the period. Finally, ING Groep NV purchased a new stake in Sunoco during the 3rd quarter worth about $8,520,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Performance

SUN opened at $54.63 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The firm has a market cap of $8.33 billion, a P/E ratio of 12.56 and a beta of 1.31. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $64.89. The business’s fifty day moving average is $52.82 and its 200-day moving average is $53.52.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. Sell-side analysts expect that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.8756 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.41%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

Analyst Ratings Changes

Several research firms recently commented on SUN. Royal Bank of Canada upped their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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 price objective on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.25.

About Sunoco

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.