Cascade Investment Group Inc. Sells 1,700 Shares of Sunoco LP (NYSE:SUN)

Cascade Investment Group Inc. lowered its stake in shares of Sunoco LP (NYSE:SUN) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,080 shares of the oil and gas company’s stock after selling 1,700 shares during the quarter. Sunoco accounts for 1.0% of Cascade Investment Group Inc.’s holdings, making the stock its 29th biggest holding. Cascade Investment Group Inc.’s holdings in Sunoco were worth $1,342,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its position in Sunoco by 34.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,617 shares of the oil and gas company’s stock valued at $261,000 after acquiring an additional 1,176 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Sunoco by 9.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,185 shares of the oil and gas company’s stock valued at $689,000 after purchasing an additional 1,028 shares during the last quarter. XTX Topco Ltd purchased a new stake in Sunoco in the 2nd quarter worth about $889,000. Benjamin F. Edwards & Company Inc. raised its position in Sunoco by 6.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,741 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 490 shares during the period. Finally, Bridges Investment Management Inc. bought a new stake in Sunoco in the second quarter worth about $279,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Trading Down 0.5 %

Shares of NYSE SUN opened at $54.46 on Monday. Sunoco LP has a twelve month low of $49.45 and a twelve month high of $64.89. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The business has a fifty day simple moving average of $52.98 and a two-hundred day simple moving average of $53.41. The firm has a market cap of $8.30 billion, a PE ratio of 12.52 and a beta of 1.36.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. Analysts expect that Sunoco LP will post 6.87 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. The ex-dividend date was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.43%. Sunoco’s dividend payout ratio is presently 80.46%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SUN. Royal Bank of Canada increased their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays increased their target price on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.43.

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.