Sunoco LP (NYSE:SUN) Shares Bought by Texas Yale Capital Corp.

Key Points

• Texas Yale Capital Corp. increased its ownership in Sunoco LP by 16.3%, acquiring an additional 11,400 shares to hold a total of 81,476 shares valued at approximately $4.73 million.
• Sunoco recently announced a quarterly dividend increase to $0.9088 per share, representing an annualized payout of $3.64 and a yield of 6.79%.
• The company's most recent earnings report showed a miss in EPS at $1.21, falling short of analyst expectations of $1.69, with revenue down 5.8% year-over-year.

Texas Yale Capital Corp. increased its holdings in shares of Sunoco LP (NYSE:SUN - Free Report) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,476 shares of the oil and gas company's stock after acquiring an additional 11,400 shares during the period. Texas Yale Capital Corp. owned approximately 0.05% of Sunoco worth $4,730,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avantax Advisory Services Inc. increased its holdings in Sunoco by 6.7% in the first quarter. Avantax Advisory Services Inc. now owns 12,912 shares of the oil and gas company's stock valued at $750,000 after buying an additional 812 shares in the last quarter. Summit Wealth Partners LLC acquired a new stake in shares of Sunoco in the first quarter valued at approximately $216,000. Retirement Income Solutions Inc acquired a new stake in shares of Sunoco in the first quarter valued at approximately $203,000. Allianz Asset Management GmbH grew its position in shares of Sunoco by 59.5% in the first quarter. Allianz Asset Management GmbH now owns 304,500 shares of the oil and gas company's stock valued at $17,679,000 after purchasing an additional 113,600 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in shares of Sunoco by 785.1% in the first quarter. J.W. Cole Advisors Inc. now owns 70,258 shares of the oil and gas company's stock valued at $4,079,000 after purchasing an additional 62,320 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.

Sunoco Trading Up 0.4%

NYSE:SUN traded up $0.21 during trading hours on Monday, reaching $53.72. 439,862 shares of the company were exchanged, compared to its average volume of 337,303. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 0.86. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 9.64 and a beta of 0.61. Sunoco LP has a 52-week low of $48.00 and a 52-week high of $59.88. The stock has a 50 day simple moving average of $53.61 and a 200 day simple moving average of $55.60.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings results 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 return on equity of 20.34% and a net margin of 3.80%. The company had revenue of $5.18 billion for the quarter, compared to analysts' expectations of $5.58 billion. During the same period in the prior year, the business earned $2.26 EPS. The business's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be paid a $0.9088 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date is Friday, August 8th. This is an increase from Sunoco's previous quarterly dividend of $0.90. Sunoco's dividend payout ratio (DPR) is currently 64.68%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Mizuho decreased their target price on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on shares of Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Sunoco has an average rating of "Moderate Buy" and a consensus price target of $64.75.

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.