International Assets Investment Management LLC Buys 565,015 Shares of Sunoco LP (NYSE:SUN)

International Assets Investment Management LLC lifted its holdings in Sunoco LP (NYSE:SUN - Free Report) by 6,075.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 574,315 shares of the oil and gas company's stock after purchasing an additional 565,015 shares during the quarter. International Assets Investment Management LLC owned 0.57% of Sunoco worth $34,419,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in Sunoco by 2.2% during the second quarter. Goldman Sachs Group Inc. now owns 2,565,351 shares of the oil and gas company's stock worth $111,747,000 after acquiring an additional 55,402 shares in the last quarter. JPMorgan Chase & Co. raised its position in Sunoco by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 1,384,765 shares of the oil and gas company's stock worth $67,784,000 after acquiring an additional 122,388 shares in the last quarter. Morgan Stanley raised its position in Sunoco by 15.2% during the third quarter. Morgan Stanley now owns 836,553 shares of the oil and gas company's stock worth $40,949,000 after acquiring an additional 110,156 shares in the last quarter. Citigroup Inc. raised its position in Sunoco by 8.3% during the third quarter. Citigroup Inc. now owns 401,149 shares of the oil and gas company's stock worth $19,636,000 after acquiring an additional 30,608 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Sunoco by 26.2% during the first quarter. Bank of America Corp DE now owns 398,221 shares of the oil and gas company's stock worth $16,264,000 after acquiring an additional 82,745 shares in the last quarter. Institutional investors own 24.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Stifel Nicolaus downgraded shares of Sunoco from a "buy" rating to a "hold" rating and set a $62.00 price objective on the stock. in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Sunoco from $53.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, March 19th. StockNews.com downgraded shares of Sunoco from a "buy" rating to a "hold" rating in a report on Wednesday, February 14th. Citigroup downgraded shares of Sunoco from a "buy" rating to a "neutral" rating and set a $65.00 price objective on the stock. in a report on Tuesday, February 27th. Finally, Wells Fargo & Company upped their price objective on shares of Sunoco from $60.00 to $61.00 and gave the company an "equal weight" rating in a report on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Sunoco presently has an average rating of "Hold" and a consensus price target of $62.71.

Sunoco Stock Performance

Shares of SUN stock traded down $2.21 on Wednesday, hitting $54.45. The company's stock had a trading volume of 684,396 shares, compared to its average volume of 456,416. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. The stock's 50 day moving average is $60.99 and its 200-day moving average is $56.67. Sunoco LP has a fifty-two week low of $41.95 and a fifty-two week high of $64.89. The company has a market capitalization of $5.49 billion, a PE ratio of 14.96 and a beta of 1.27.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.96 by ($2.46). The firm had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The company's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. Equities research analysts expect that Sunoco LP will post 4.96 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.842 per share. The ex-dividend date was Tuesday, February 6th. This represents a $3.37 dividend on an annualized basis and a yield of 6.19%. Sunoco's payout ratio is 92.58%.

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.