Steele Capital Management Inc. Purchases Shares of 8,932 Sunoco LP (NYSE:SUN)

Steele Capital Management Inc. purchased a new stake in Sunoco LP (NYSE:SUN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,932 shares of the oil and gas company’s stock, valued at approximately $535,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in Sunoco by 6,075.4% in the fourth quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock valued at $34,419,000 after buying an additional 565,015 shares during the period. Miller Howard Investments Inc. NY lifted its stake in Sunoco by 19.6% in the fourth quarter. Miller Howard Investments Inc. NY now owns 419,414 shares of the oil and gas company’s stock valued at $25,135,000 after buying an additional 68,627 shares during the period. Jennison Associates LLC acquired a new position in Sunoco in the fourth quarter valued at approximately $15,396,000. Fractal Investments LLC lifted its stake in Sunoco by 1,110.0% in the fourth quarter. Fractal Investments LLC now owns 242,000 shares of the oil and gas company’s stock valued at $14,503,000 after buying an additional 222,000 shares during the period. Finally, Recurrent Investment Advisors LLC raised its position in shares of Sunoco by 12.3% during the third quarter. Recurrent Investment Advisors LLC now owns 184,308 shares of the oil and gas company’s stock worth $9,022,000 after purchasing an additional 20,206 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Performance

NYSE:SUN traded up $0.57 during trading on Monday, reaching $57.21. The company’s stock had a trading volume of 507,060 shares, compared to its average volume of 463,893. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 15.72 and a beta of 1.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. The firm has a 50 day moving average of $59.39 and a 200-day moving average of $57.30. Sunoco LP has a 12 month low of $41.95 and a 12 month high of $64.89.

Sunoco (NYSE:SUN) last announced its quarterly earnings data 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). The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.42 billion. Sunoco had a net margin of 1.71% and a return on equity of 37.91%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Research analysts expect that Sunoco LP will post 5.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Citigroup lowered Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Tuesday, February 27th. Mizuho upped their target price on Sunoco from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Stifel Nicolaus lowered Sunoco from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Tuesday, February 20th. Finally, Barclays upped their target price on Sunoco from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Sunoco currently has a consensus rating of “Hold” and an average price target of $62.71.

Insider Buying and Selling at Sunoco

In other Sunoco news, Director David K. Skidmore acquired 1,500 shares of Sunoco stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $52.10 per share, for a total transaction of $78,150.00. Following the purchase, the director now directly owns 14,608 shares of the company’s stock, valued at $761,076.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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.