Avantax Advisory Services Inc. Acquires 1,048 Shares of Sunoco LP (NYSE:SUN)

Avantax Advisory Services Inc. lifted its holdings in Sunoco LP (NYSE:SUN) by 9.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,100 shares of the oil and gas company’s stock after acquiring an additional 1,048 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Sunoco were worth $622,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Independence Bank of Kentucky bought a new stake in shares of Sunoco in the 4th quarter worth approximately $53,000. Steward Partners Investment Advisory LLC lifted its holdings 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 worth $64,000 after acquiring an additional 182 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 788 shares during the last quarter. Allworth Financial LP raised its holdings in Sunoco by 90.6% during the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 819 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Sunoco by 112.5% during the 4th quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 1,295 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors.

Sunoco Price Performance

SUN opened at $56.94 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. The stock has a market capitalization of $8.69 billion, a P/E ratio of 8.63 and a beta of 1.35. The company’s 50-day simple moving average is $56.98 and its two-hundred day simple moving average is $54.28. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $62.55.

Sunoco (NYSE:SUN) last posted its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. As a group, analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.8865 dividend. This represents a $3.55 annualized dividend and a dividend yield of 6.23%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio is 53.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SUN shares. Mizuho upped their price target on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Barclays upped their target price on shares of Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada upped their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

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.