Sunoco LP (NYSE:SUN) Shares Sold by 1900 Wealth Management LLC

1900 Wealth Management LLC lowered its position in shares of Sunoco LP (NYSE:SUN) by 16.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,626 shares of the oil and gas company’s stock after selling 914 shares during the period. 1900 Wealth Management LLC’s holdings in Sunoco were worth $238,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in Sunoco by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after purchasing an additional 455,361 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its position in shares of Sunoco by 3.1% during the third quarter. Infrastructure Capital Advisors LLC now owns 1,087,407 shares of the oil and gas company’s stock worth $58,372,000 after buying an additional 32,239 shares during the period. Recurrent Investment Advisors LLC increased its position in Sunoco by 29.3% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company’s stock valued at $46,389,000 after acquiring an additional 195,583 shares during the period. International Assets Investment Management LLC increased its position in Sunoco by 5,437.3% in the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after acquiring an additional 562,435 shares during the period. Finally, Barclays PLC raised its stake in Sunoco by 908,833.3% during the 3rd quarter. Barclays PLC now owns 436,288 shares of the oil and gas company’s stock valued at $23,419,000 after acquiring an additional 436,240 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analysts Set New Price Targets

SUN has been the subject of a number of analyst reports. Barclays boosted their price target on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Mizuho increased their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Royal Bank of Canada raised their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and an average target price of $63.43.

Sunoco Trading Down 2.3 %

Shares of SUN stock opened at $57.90 on Friday. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week 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 stock has a market capitalization of $8.82 billion, a P/E ratio of 13.31 and a beta of 1.36. The stock has a 50-day simple moving average of $53.91 and a 200 day simple moving average of $53.41.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period in the prior year, the firm earned $2.95 EPS. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, sell-side analysts expect that Sunoco LP will post 9.63 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.8865 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.55 annualized dividend and a yield of 6.12%. Sunoco’s payout ratio is 80.46%.

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.