Wilmington Savings Fund Society FSB Invests $165,000 in Sunoco LP (NYSE:SUN)

Wilmington Savings Fund Society FSB purchased a new stake in Sunoco LP (NYSE:SUN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,080 shares of the oil and gas company’s stock, valued at approximately $165,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SUN. Stifel Financial Corp boosted its holdings in shares of Sunoco by 0.8% during the third quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock worth $1,355,000 after acquiring an additional 194 shares during the period. Tyche Wealth Partners LLC boosted its stake in Sunoco by 5.4% in the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 200 shares during the period. World Investment Advisors LLC grew its holdings in Sunoco by 5.6% in the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after buying an additional 200 shares in the last quarter. Wedbush Securities Inc. increased its position in Sunoco by 2.1% during the 2nd quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock worth $597,000 after buying an additional 218 shares during the period. Finally, IHT Wealth Management LLC lifted its holdings in shares of Sunoco by 2.6% during the third quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock worth $517,000 after buying an additional 245 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of NYSE:SUN opened at $50.86 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $7.75 billion, a PE ratio of 11.69 and a beta of 1.33. The firm has a 50 day moving average of $53.09 and a 200-day moving average of $53.78. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.95 earnings per share. On average, equities research analysts predict that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.8756 per share. The ex-dividend date was Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.89%. Sunoco’s dividend payout ratio is currently 80.46%.

Analyst Upgrades and Downgrades

SUN has been the topic of several research reports. Royal Bank of Canada upped their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their target price on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Barclays lifted their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.75.

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.