Chickasaw Capital Management LLC Purchases 61,000 Shares of Sunoco LP (NYSE:SUN)

Chickasaw Capital Management LLC boosted its holdings in Sunoco LP (NYSE:SUN - Free Report) by 79.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,000 shares of the oil and gas company's stock after purchasing an additional 61,000 shares during the quarter. Sunoco makes up about 0.3% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 22nd largest holding. Chickasaw Capital Management LLC owned about 0.09% of Sunoco worth $8,012,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SUN. Atria Wealth Solutions Inc. bought a new stake in shares of Sunoco during the fourth quarter valued at about $256,000. Virtu Financial LLC bought a new stake in shares of Sunoco during the fourth quarter valued at about $239,000. Icon Advisers Inc. Co. bought a new stake in shares of Sunoco during the fourth quarter valued at about $1,852,000. Van ECK Associates Corp raised its stake in shares of Sunoco by 41.1% during the fourth quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company's stock valued at $1,550,000 after purchasing an additional 8,782 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Sunoco in the fourth quarter worth about $17,739,000. Institutional investors and hedge funds own 24.29% of the company's stock.

Sunoco Trading Down 1.5%

NYSE SUN traded down $0.84 on Wednesday, hitting $53.52. 725,905 shares of the company were exchanged, compared to its average volume of 461,893. The company's 50 day moving average price is $55.90 and its 200-day moving average price is $55.54. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The firm has a market capitalization of $8.17 billion, a P/E ratio of 8.11 and a beta of 0.67. Sunoco LP has a twelve month low of $48.00 and a twelve month high of $59.88.

Sunoco (NYSE:SUN - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.48). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. The business had revenue of $5.18 billion for the quarter, compared to analysts' expectations of $5.58 billion. During the same period last year, the firm earned $2.26 EPS. The company's revenue was down 5.8% compared to the same quarter last year. Analysts predict that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a dividend of $0.8976 per share. This represents a $3.59 annualized dividend and a yield of 6.71%. The ex-dividend date was Friday, May 9th. This is a boost from Sunoco's previous quarterly dividend of $0.89. Sunoco's payout ratio is 64.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SUN shares. Barclays dropped their price target on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Mizuho boosted their price target on shares of Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.33.

Sunoco Company 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.