TCG Advisory Services LLC Takes Position in Sunoco LP (NYSE:SUN)

TCG Advisory Services LLC acquired a new stake in Sunoco LP (NYSE:SUN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 239,948 shares of the oil and gas company’s stock, valued at approximately $14,380,000. Sunoco comprises approximately 1.0% of TCG Advisory Services LLC’s investment portfolio, making the stock its 20th largest holding. TCG Advisory Services LLC owned about 0.24% of Sunoco at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SUN. Compass Wealth Management LLC increased its holdings in Sunoco by 60.0% during the third quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after buying an additional 300 shares during the last quarter. Allworth Financial LP increased its holdings in Sunoco by 250.0% during the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after buying an additional 500 shares during the last quarter. Retirement Solution Inc. acquired a new position in Sunoco during the fourth quarter worth $200,000. CWA Asset Management Group LLC acquired a new position in Sunoco during the third quarter worth $201,000. Finally, Alpha Cubed Investments LLC acquired a new position in Sunoco during the fourth quarter worth $207,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Performance

Shares of Sunoco stock traded up $0.61 during trading on Friday, reaching $55.91. The company’s stock had a trading volume of 613,216 shares, compared to its average volume of 664,122. The business’s 50-day moving average price is $58.88 and its 200-day moving average price is $57.40. The firm has a market cap of $5.64 billion, a PE ratio of 15.36 and a beta of 1.29. Sunoco LP has a 52 week low of $41.95 and a 52 week high of $64.89. The company has a quick ratio of 0.76, a current ratio of 1.40 and a debt-to-equity ratio of 3.66.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). Sunoco had a net margin of 1.71% and a return on equity of 37.91%. The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the firm posted $0.42 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. Equities analysts forecast that Sunoco LP will post 5.07 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.876 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, May 10th. This represents a $3.50 annualized dividend and a yield of 6.27%. Sunoco’s dividend payout ratio is currently 92.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus downgraded shares of Sunoco from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Tuesday, February 20th. StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Raymond James lifted their price objective on shares of Sunoco from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Barclays lifted their price objective on shares of Sunoco from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $53.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.71.

Insider Buying and Selling

In other news, Director David K. Skidmore acquired 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $52.10 per share, with a total value of $78,150.00. Following the completion of the transaction, the director now directly owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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.