Sigma Planning Corp Sells 10,959 Shares of Sunoco LP (NYSE:SUN)

Sigma Planning Corp cut its stake in shares of Sunoco LP (NYSE:SUN) by 37.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,992 shares of the oil and gas company’s stock after selling 10,959 shares during the quarter. Sigma Planning Corp’s holdings in Sunoco were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Independence Bank of Kentucky purchased a new stake in shares of Sunoco during the fourth quarter valued at approximately $53,000. Global Retirement Partners LLC raised its holdings in Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 788 shares during the last quarter. Allworth Financial LP boosted its position in Sunoco by 90.6% during the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 819 shares during the period. Kieckhefer Group LLC bought a new stake in Sunoco in the 4th quarter worth $129,000. Finally, Venturi Wealth Management LLC grew its holdings in Sunoco by 6,891.7% in the 4th quarter. Venturi Wealth Management LLC now owns 2,517 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 2,481 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SUN shares. Royal Bank of Canada increased their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays upped their price target on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Mizuho lifted their price objective on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.83.

Sunoco Price Performance

SUN stock opened at $57.77 on Wednesday. The firm has a 50-day moving average of $54.69 and a 200 day moving average of $53.67. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The company has a market cap of $8.82 billion, a P/E ratio of 8.75 and a beta of 1.36. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. On average, sell-side analysts forecast that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders 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 annualized dividend and a yield of 6.14%. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio (DPR) is currently 53.64%.

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.