Inscription Capital LLC Takes $330,000 Position in Sunoco LP (NYSE:SUN)

Inscription Capital LLC purchased a new stake in Sunoco LP (NYSE:SUN - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 5,475 shares of the oil and gas company's stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Sunoco by 41.1% in the 4th quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company's stock valued at $1,550,000 after buying an additional 8,782 shares during the period. Allworth Financial LP lifted its holdings in Sunoco by 90.6% in the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company's stock worth $95,000 after acquiring an additional 819 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in Sunoco in the fourth quarter valued at approximately $408,000. Sanctuary Advisors LLC grew its holdings in shares of Sunoco by 18.7% during the fourth quarter. Sanctuary Advisors LLC now owns 114,352 shares of the oil and gas company's stock valued at $5,882,000 after purchasing an additional 17,975 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Sunoco by 6,891.7% during the fourth quarter. Venturi Wealth Management LLC now owns 2,517 shares of the oil and gas company's stock valued at $129,000 after purchasing an additional 2,481 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Price Performance

Shares of NYSE SUN traded up $0.76 during trading on Thursday, hitting $53.21. The company had a trading volume of 429,587 shares, compared to its average volume of 451,687. Sunoco LP has a 52 week low of $48.00 and a 52 week high of $59.88. The business's 50-day moving average is $55.54 and its 200 day moving average is $55.45. The company has a market cap of $8.13 billion, a P/E ratio of 9.59 and a beta of 0.62. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.86 and a current ratio of 1.55.

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

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a $0.8976 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.59 dividend on an annualized basis and a yield of 6.75%. This is a boost from Sunoco's previous quarterly dividend of $0.89. Sunoco's dividend payout ratio (DPR) is currently 64.68%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays cut their price target on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. lifted their target price on Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Mizuho upped their price target on shares of Sunoco from $66.00 to $68.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Sunoco has a consensus rating of "Moderate Buy" and an average target price 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.