Sunoco LP $SUN Holdings Raised by Chickasaw Capital Management LLC

Key Points

• Chickasaw Capital Management LLC increased its stake in Sunoco LP by 4.7%, acquiring an additional 6,429 shares, bringing its total ownership to 144,429 shares.
• Sunoco recently reported a quarterly earnings miss with earnings per share of $0.33, falling short of the expected $1.68, while revenues declined 12.7% year-over-year.
• The company announced a slight increase in its quarterly dividend to $0.9088 per share, which reflects an annualized yield of 7.3% despite a high dividend payout ratio of 179.31%.

Chickasaw Capital Management LLC boosted its position in Sunoco LP (NYSE:SUN - Free Report) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 144,429 shares of the oil and gas company's stock after acquiring an additional 6,429 shares during the period. Sunoco comprises approximately 0.3% of Chickasaw Capital Management LLC's holdings, making the stock its 25th biggest holding. Chickasaw Capital Management LLC owned 0.09% of Sunoco worth $7,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SUN. Alps Advisors Inc. grew its stake in Sunoco by 12.3% in the 1st quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company's stock worth $1,343,080,000 after acquiring an additional 2,529,170 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sunoco by 14.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,978,209 shares of the oil and gas company's stock valued at $172,915,000 after buying an additional 369,508 shares during the period. Invesco Ltd. grew its stake in shares of Sunoco by 3.3% during the 1st quarter. Invesco Ltd. now owns 9,165,717 shares of the oil and gas company's stock valued at $532,162,000 after buying an additional 296,791 shares during the period. Cooperman Leon G purchased a new stake in shares of Sunoco during the 1st quarter valued at $16,547,000. Finally, Neuberger Berman Group LLC grew its stake in shares of Sunoco by 29.4% during the 1st quarter. Neuberger Berman Group LLC now owns 644,512 shares of the oil and gas company's stock valued at $37,420,000 after buying an additional 146,621 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on SUN shares. JPMorgan Chase & Co. lifted their target price on shares of Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Mizuho reduced their target price on shares of Sunoco from $67.00 to $66.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Sunoco currently has an average rating of "Buy" and an average target price of $64.50.

Sunoco Price Performance

Shares of Sunoco stock traded down $0.88 on Friday, hitting $49.37. The company had a trading volume of 661,127 shares, compared to its average volume of 325,314. The business has a 50-day simple moving average of $52.14 and a 200-day simple moving average of $54.31. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.52 and a quick ratio of 0.80. The company has a market cap of $7.55 billion, a PE ratio of 24.32 and a beta of 0.58. Sunoco LP has a 52 week low of $48.00 and a 52 week high of $59.88.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($1.35). The company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.42 billion. Sunoco had a net margin of 2.02% and a return on equity of 10.57%. The company's revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the business earned $3.85 earnings per share. Research analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a dividend of $0.9088 per share. The ex-dividend date was Friday, August 8th. This is a positive change from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 7.4%. Sunoco's payout ratio is 178.82%.

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.