Whittier Trust Co. of Nevada Inc. Makes New $3.70 Million Investment in Sunoco LP (NYSE:SUN)

Whittier Trust Co. of Nevada Inc. acquired a new stake in Sunoco LP (NYSE:SUN) in the 4th quarter, Holdings Channel reports. The firm acquired 72,000 shares of the oil and gas company’s stock, valued at approximately $3,703,000.

Several other hedge funds have also made changes to their positions in SUN. Steward Partners Investment Advisory LLC grew its holdings in Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 182 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Sunoco by 1.8% in 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 purchasing an additional 190 shares during the period. Stifel Financial Corp raised its holdings in shares of Sunoco by 0.8% in the third 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. World Investment Advisors LLC lifted its position in Sunoco by 5.6% during the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after buying an additional 200 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in Sunoco by 2.6% during the third 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 own 24.29% of the company’s stock.

Sunoco Stock Performance

NYSE:SUN opened at $56.94 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $8.69 billion, a PE ratio of 8.63 and a beta of 1.35. Sunoco LP has a twelve month low of $49.45 and a twelve month high of $62.55. The stock’s 50-day simple moving average is $56.98 and its 200 day simple moving average is $54.28.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. On average, analysts anticipate that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.8865 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.23%. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s payout ratio is currently 53.64%.

Analysts Set New Price Targets

Several analysts recently commented on SUN shares. Barclays lifted their target price on shares of Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Royal Bank of Canada increased their price objective on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Mizuho increased their target price on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.67.

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.