Spirit of America Management Corp NY Has $694,000 Position in Sunoco LP (NYSE:SUN)

Spirit of America Management Corp NY lowered its stake in shares of Sunoco LP (NYSE:SUN) by 51.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,500 shares of the oil and gas company’s stock after selling 14,055 shares during the period. Spirit of America Management Corp NY’s holdings in Sunoco were worth $694,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. boosted its stake in shares of Sunoco by 1.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock valued at $570,000 after buying an additional 190 shares during the period. Stifel Financial Corp lifted its stake in shares of Sunoco by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock valued at $1,355,000 after purchasing an additional 194 shares during the last quarter. Tyche Wealth Partners LLC lifted its stake in shares of Sunoco by 5.4% in the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 200 shares during the last quarter. World Investment Advisors LLC lifted its stake in shares of Sunoco by 5.6% in the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 200 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its stake in shares of Sunoco by 2.6% in the 3rd quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock valued at $517,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Up 2.7 %

Sunoco stock opened at $59.24 on Wednesday. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 13.62 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89. The firm has a fifty day moving average price of $53.75 and a two-hundred day moving average price of $53.34.

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). The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. As a group, analysts forecast that Sunoco LP will post 9.63 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.8865 per share. This is an increase from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, February 7th. This represents a $3.55 annualized dividend and a dividend yield of 5.99%. Sunoco’s payout ratio is presently 80.46%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SUN shares. Mizuho lifted their price objective on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday. Barclays lifted their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their price objective 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and an average target price of $63.43.

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.