Alps Advisors Inc. Has $1.34 Billion Stock Holdings in Sunoco LP (NYSE:SUN)

Alps Advisors Inc. lifted its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,132,625 shares of the oil and gas company's stock after acquiring an additional 2,529,170 shares during the period. Sunoco makes up about 7.8% of Alps Advisors Inc.'s portfolio, making the stock its 6th largest holding. Alps Advisors Inc. owned approximately 15.15% of Sunoco worth $1,343,080,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its stake in Sunoco by 7.4% in the 1st quarter. Stratos Wealth Partners LTD. now owns 9,640 shares of the oil and gas company's stock valued at $560,000 after purchasing an additional 668 shares during the last quarter. Alpha Cubed Investments LLC bought a new position in Sunoco in the 1st quarter valued at approximately $204,000. U.S. Capital Wealth Advisors LLC bought a new position in Sunoco in the 1st quarter valued at approximately $538,000. Envestnet Asset Management Inc. lifted its stake in Sunoco by 6.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 32,603 shares of the oil and gas company's stock valued at $1,893,000 after purchasing an additional 1,845 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in Sunoco in the 1st quarter valued at approximately $239,000. Institutional investors own 24.29% of the company's stock.

Sunoco Stock Up 0.6%

Sunoco stock opened at $53.00 on Thursday. Sunoco LP has a 1-year low of $48.00 and a 1-year high of $59.88. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 9.55 and a beta of 0.61. The firm's fifty day moving average price is $54.46 and its two-hundred day moving average price is $55.43. The company has a current ratio of 1.55, a quick ratio of 0.86 and a debt-to-equity ratio of 1.85.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.48). Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the business posted $2.26 earnings per share. The firm's quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research analysts predict that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.8976 dividend. This represents a $3.59 dividend on an annualized basis and a dividend yield of 6.77%. This is a positive change from Sunoco's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, May 9th. Sunoco's dividend payout ratio (DPR) is 64.68%.

Wall Street Analyst Weigh In

SUN has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Sunoco from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Mizuho upped their price target on shares of Sunoco from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. Finally, Barclays decreased their price target on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.75.

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.

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