Advisors Asset Management Inc. Has $2.47 Million Holdings in Sunoco LP (NYSE:SUN)

Advisors Asset Management Inc. grew its stake in Sunoco LP (NYSE:SUN) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,916 shares of the oil and gas company’s stock after acquiring an additional 3,211 shares during the period. Advisors Asset Management Inc.’s holdings in Sunoco were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Sunoco by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after acquiring an additional 455,361 shares during the last quarter. Infrastructure Capital Advisors LLC raised its stake in shares of Sunoco by 3.1% during the third quarter. Infrastructure Capital Advisors LLC now owns 1,087,407 shares of the oil and gas company’s stock worth $58,372,000 after buying an additional 32,239 shares during the last quarter. Recurrent Investment Advisors LLC raised its stake in shares of Sunoco by 29.3% during the third quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company’s stock worth $46,389,000 after buying an additional 195,583 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in shares of Sunoco by 0.9% during the fourth quarter. Miller Howard Investments Inc. NY now owns 595,057 shares of the oil and gas company’s stock worth $30,610,000 after buying an additional 5,296 shares during the last quarter. Finally, ING Groep NV raised its stake in shares of Sunoco by 223.7% during the fourth quarter. ING Groep NV now owns 513,715 shares of the oil and gas company’s stock worth $26,426,000 after buying an additional 355,000 shares during the last quarter. 24.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Barclays upped their target price on shares of Sunoco from $59.00 to $62.00 and gave the company an “overweight” rating in a research note 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 company an “outperform” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Sunoco Stock Down 1.6 %

Sunoco stock opened at $56.94 on Friday. The stock has a market capitalization of $8.69 billion, a PE ratio of 8.63 and a beta of 1.35. Sunoco LP has a twelve month low of $49.45 and a twelve month high of $62.55. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. The company has a 50 day moving average of $56.98 and a 200-day moving average of $54.28.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share 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%. On average, equities research analysts anticipate that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.8865 dividend. This represents a $3.55 annualized dividend and a dividend yield of 6.23%. The ex-dividend date 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%.

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.