Duff & Phelps Investment Management Co. Has $5.14 Million Stake in Sunoco LP (NYSE:SUN)

Duff & Phelps Investment Management Co. raised its position in shares of Sunoco LP (NYSE:SUN) by 405.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,662 shares of the oil and gas company’s stock after acquiring an additional 76,727 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.06% of Sunoco worth $5,135,000 as of its most recent SEC filing.

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

Sunoco Trading Up 0.0 %

SUN stock opened at $54.16 on Tuesday. 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 firm has a market cap of $8.25 billion, a P/E ratio of 12.45 and a beta of 1.34. Sunoco LP has a 1-year low of $49.45 and a 1-year high of $64.89. The business’s 50 day moving average is $53.13 and its 200-day moving average is $53.68.

Sunoco (NYSE:SUN) last announced its quarterly 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 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 business’s revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the company earned $2.95 earnings per share. Equities analysts anticipate that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Royal Bank of Canada boosted their price objective on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.38.

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.