FORA Capital LLC Invests $524,000 in Sunoco LP (NYSE:SUN)

FORA Capital LLC acquired a new stake in shares of Sunoco LP (NYSE:SUN) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,762 shares of the oil and gas company’s stock, valued at approximately $524,000.

A number of other institutional investors have also added to or reduced their stakes in SUN. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco during the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. acquired a new stake in shares of Sunoco in the second quarter valued at $38,000. Redwood Wealth Management Group LLC bought a new position in shares of Sunoco in the second quarter worth about $46,000. HHM Wealth Advisors LLC bought a new stake in shares of Sunoco during the second quarter worth $93,000. Finally, Wealth Alliance Advisory Group LLC bought a new position in Sunoco in the second quarter valued at approximately $207,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Trading Up 0.8 %

Shares of SUN stock opened at $54.63 on Friday. The company’s fifty day simple moving average is $52.82 and its two-hundred day simple moving average is $53.52. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 12.56 and a beta of 1.31. 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 1 year low of $49.45 and a 1 year high of $64.89.

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

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is currently 80.46%.

Analyst Ratings Changes

SUN has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target 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. JPMorgan Chase & Co. upped their price objective on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, StockNews.com lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Sunoco has an average rating of “Moderate Buy” and an average price target of $62.25.

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.