Waldron Private Wealth LLC Sells 10,000 Shares of Sunoco LP $SUN

Waldron Private Wealth LLC reduced its stake in shares of Sunoco LP (TXSE:SUN) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,000 shares of the oil and gas company’s stock after selling 10,000 shares during the quarter. Waldron Private Wealth LLC’s holdings in Sunoco were worth $4,445,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compass Wealth Management LLC purchased a new stake in shares of Sunoco in the 3rd quarter valued at about $58,000. Compass Financial Management LLC purchased a new position in Sunoco during the 2nd quarter worth approximately $60,000. TD Waterhouse Canada Inc. grew its stake in Sunoco by 198.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 978 shares of the oil and gas company’s stock worth $73,000 after buying an additional 650 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Sunoco during the first quarter worth approximately $78,000. Finally, IFP Advisors Inc increased its position in Sunoco by 59.9% during the third quarter. IFP Advisors Inc now owns 1,760 shares of the oil and gas company’s stock worth $128,000 after buying an additional 659 shares during the period. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Price Performance

The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 0.83. The firm has a market cap of $12.64 billion, a PE ratio of 13.66 and a beta of 0.42. Sunoco LP has a 52-week low of $49.98 and a 52-week high of $80.22. The firm has a 50-day moving average of $73.78 and a 200-day moving average of $68.62.

Sunoco (TXSE:SUN) last announced its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $2.07 earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.39). Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The company had revenue of $18.03 billion during the quarter, compared to analyst estimates of $11.76 billion. During the same quarter last year, the business earned $0.64 EPS. Analysts expect that Sunoco LP will post 10.60 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be given a $1.0148 dividend. This is an increase from Sunoco’s previous quarterly dividend of $1.0023. The ex-dividend date of this dividend is Friday, November 6th. This represents a $4.06 annualized dividend and a dividend yield of 6.6%. Sunoco’s dividend payout ratio is 68.07%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SUN shares. Wells Fargo & Company boosted their price objective on Sunoco from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sunoco in a report on Tuesday, August 18th. JPMorgan Chase & Co. started coverage on shares of Sunoco in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $87.00 price target for the company. Barclays reiterated an “overweight” rating and set a $83.00 price target on shares of Sunoco in a research note on Thursday, October 15th. Finally, Citigroup increased their price target on shares of Sunoco from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $80.12.

Sunoco Company Profile

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand.

Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.