IHT Wealth Management LLC Acquires 245 Shares of Sunoco LP (NYSE:SUN)

IHT Wealth Management LLC lifted its holdings in shares of Sunoco LP (NYSE:SUN) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,627 shares of the oil and gas company’s stock after acquiring an additional 245 shares during the quarter. IHT Wealth Management LLC’s holdings in Sunoco were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Gateway Advisory LLC bought a new position in Sunoco during the second quarter worth $1,222,000. International Assets Investment Management LLC lifted its stake in shares of Sunoco by 5,437.3% during the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after buying an additional 562,435 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Sunoco by 40.8% during the 2nd quarter. Private Advisor Group LLC now owns 52,064 shares of the oil and gas company’s stock worth $2,944,000 after buying an additional 15,087 shares during the period. XTX Topco Ltd acquired a new position in Sunoco in the 2nd quarter valued at about $889,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Sunoco by 42.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 276,829 shares of the oil and gas company’s stock valued at $15,652,000 after acquiring an additional 83,008 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Trading Down 2.0 %

Shares of SUN stock opened at $54.14 on Monday. The stock has a market cap of $8.25 billion, a P/E ratio of 12.45 and a beta of 1.33. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a 50 day simple moving average of $53.12 and a 200 day simple moving average of $53.65.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. On average, research analysts predict that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.8756 dividend. This represents a $3.50 annualized dividend and a yield of 6.47%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio is currently 80.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SUN. Royal Bank of Canada boosted their price objective on Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.25.

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.