World Investment Advisors Acquires New Holdings in Sunoco LP (NYSE:SUN)

World Investment Advisors acquired a new stake in Sunoco LP (NYSE:SUN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,800 shares of the oil and gas company's stock, valued at approximately $279,000.

A number of other institutional investors have also made changes to their positions in SUN. Jones Financial Companies Lllp raised its stake in shares of Sunoco by 14.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,022 shares of the oil and gas company's stock valued at $155,000 after acquiring an additional 393 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Sunoco by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company's stock valued at $64,000 after acquiring an additional 182 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Sunoco in the 4th quarter valued at approximately $17,739,000. Moors & Cabot Inc. raised its stake in shares of Sunoco by 4.4% in the 4th quarter. Moors & Cabot Inc. now owns 14,224 shares of the oil and gas company's stock valued at $732,000 after acquiring an additional 600 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in Sunoco by 9.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,100 shares of the oil and gas company's stock worth $622,000 after buying an additional 1,048 shares during the period. 24.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sunoco Stock Performance

SUN opened at $52.60 on Friday. The stock has a market cap of $8.03 billion, a PE ratio of 9.48 and a beta of 0.61. 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 LP has a 1 year low of $48.00 and a 1 year high of $59.88. The stock's 50 day simple moving average is $54.37 and its 200-day simple moving average is $55.44.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.48). The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.58 billion. Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The business's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.26 earnings per share. Sell-side analysts forecast that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.8976 per share. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Sunoco's previous quarterly dividend of $0.89. This represents a $3.59 dividend on an annualized basis and a dividend yield of 6.83%. Sunoco's payout ratio is currently 64.68%.

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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