Kayne Anderson Capital Advisors LP Has $506,000 Holdings in Sunoco LP (NYSE:SUN)

Kayne Anderson Capital Advisors LP lessened its holdings in Sunoco LP (NYSE:SUN) by 51.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,431 shares of the oil and gas company’s stock after selling 10,089 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Sunoco were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tyche Wealth Partners LLC boosted its stake in 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 period. Wedbush Securities Inc. lifted its position in Sunoco by 2.1% during the second quarter. Wedbush Securities Inc. now owns 10,553 shares of the oil and gas company’s stock worth $597,000 after purchasing an additional 218 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in Sunoco by 2.5% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 9,325 shares of the oil and gas company’s stock worth $527,000 after buying an additional 228 shares in the last quarter. Quad Cities Investment Group LLC raised its position in shares of Sunoco by 2.2% in the 2nd quarter. Quad Cities Investment Group LLC now owns 13,624 shares of the oil and gas company’s stock valued at $770,000 after buying an additional 288 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in shares of Sunoco by 3.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 8,296 shares of the oil and gas company’s stock worth $469,000 after acquiring an additional 293 shares in the last quarter. 24.29% of the stock is owned by institutional investors.

Sunoco Price Performance

Sunoco stock opened at $52.16 on Monday. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 11.99 and a beta of 1.31. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $64.89. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.72 and a current ratio of 1.16. The stock’s 50 day moving average price is $52.69 and its two-hundred day moving average price is $53.59.

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

Sunoco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a $0.8756 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a yield of 6.71%. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SUN shares. StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada upped their price objective on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Sunoco has an average rating of “Moderate Buy” and a consensus price target of $62.25.

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.