Sunoco LP (NYSE:SUN) Shares Sold by Morgan Stanley

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Morgan Stanley trimmed its holdings in Sunoco LP (NYSE:SUN) by 27.4% during the second quarter, HoldingsChannel.com reports. The fund owned 314,812 shares of the oil and gas company’s stock after selling 118,628 shares during the period. Morgan Stanley’s holdings in Sunoco were worth $9,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SUN. Adams Asset Advisors LLC increased its holdings in shares of Sunoco by 0.7% in the 2nd quarter. Adams Asset Advisors LLC now owns 235,096 shares of the oil and gas company’s stock valued at $7,353,000 after acquiring an additional 1,705 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Sunoco by 15.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 9,141 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 1,204 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Sunoco in the 2nd quarter valued at $41,000. SG Americas Securities LLC acquired a new position in shares of Sunoco in the 2nd quarter valued at $727,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Sunoco in the 2nd quarter valued at $203,000. 28.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of SUN opened at $31.61 on Tuesday. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.78 and a current ratio of 1.24. The stock has a market capitalization of $3.12 billion, a P/E ratio of 12.25 and a beta of 0.77. The company’s fifty day moving average is $31.35 and its two-hundred day moving average is $31.29. Sunoco LP has a 1 year low of $23.80 and a 1 year high of $34.09.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.31). The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.17 billion. Sunoco had a net margin of 1.21% and a return on equity of 35.57%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. Sell-side analysts predict that Sunoco LP will post 2.23 EPS for the current year.

SUN has been the topic of a number of recent research reports. Stifel Nicolaus set a $34.00 target price on shares of Sunoco and gave the company a “hold” rating in a report on Monday, August 12th. ValuEngine raised shares of Sunoco from a “strong sell” rating to a “sell” rating in a report on Thursday, October 10th. Finally, Raymond James cut their target price on shares of Sunoco from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $30.88.

Sunoco Company Profile

Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

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Want to see what other hedge funds are holding SUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunoco LP (NYSE:SUN).

Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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