Empirical Asset Management LLC Sells 4,807 Shares of Sunoco LP (NYSE:SUN)

Empirical Asset Management LLC reduced its holdings in Sunoco LP (NYSE:SUN - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,705 shares of the oil and gas company's stock after selling 4,807 shares during the quarter. Empirical Asset Management LLC's holdings in Sunoco were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SUN. Kieckhefer Group LLC purchased a new stake in Sunoco in the fourth quarter worth about $129,000. Wilmington Savings Fund Society FSB bought a new position in Sunoco during the 3rd quarter valued at approximately $165,000. World Investment Advisors LLC raised its stake in Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company's stock valued at $204,000 after buying an additional 200 shares during the last quarter. Tyche Wealth Partners LLC boosted its holdings in Sunoco by 5.4% in the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company's stock worth $210,000 after acquiring an additional 200 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Sunoco in the third quarter worth $221,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Performance

Sunoco stock traded down $0.25 during mid-day trading on Friday, reaching $54.46. 288,623 shares of the stock traded hands, compared to its average volume of 380,572. The stock has a market capitalization of $8.30 billion, a PE ratio of 12.52 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The business's 50-day moving average is $52.98 and its 200-day moving average is $53.45. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $6.09 billion. During the same period in the previous year, the business posted $2.95 EPS. The business's quarterly revenue was down 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Sunoco LP will post 6.87 EPS for the current fiscal year.

Sunoco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.8756 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.43%. Sunoco's dividend payout ratio (DPR) is 80.46%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SUN. Barclays raised their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their price target on Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.75.

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.