Exchange Traded Concepts LLC lowered its holdings in Sunoco LP (NYSE:SUN - Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,054 shares of the oil and gas company's stock after selling 9,117 shares during the period. Exchange Traded Concepts LLC owned approximately 0.08% of Sunoco worth $6,124,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Kieckhefer Group LLC acquired a new stake in Sunoco in the 4th quarter valued at $129,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunoco in the third quarter worth about $165,000. World Investment Advisors LLC grew its stake in shares of Sunoco by 5.6% in 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 in the last quarter. Tyche Wealth Partners LLC raised its holdings in shares of Sunoco by 5.4% during the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company's stock valued at $210,000 after buying an additional 200 shares during the period. Finally, CWA Asset Management Group LLC acquired a new position in Sunoco during the 3rd quarter worth approximately $221,000. Hedge funds and other institutional investors own 24.29% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Sunoco from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Barclays raised their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.43.
Read Our Latest Research Report on SUN
Sunoco Stock Up 0.5 %
Shares of NYSE:SUN traded up $0.27 during midday trading on Friday, reaching $56.02. The company had a trading volume of 450,269 shares, compared to its average volume of 302,033. The stock has a market capitalization of $8.54 billion, a P/E ratio of 12.88 and a beta of 1.36. The stock's fifty day moving average price is $53.34 and its 200-day moving average price is $53.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. Sunoco LP has a one year low of $49.45 and a one year high of $64.89.
Sunoco (NYSE:SUN - Get Free Report) last released its earnings results 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 return on equity of 19.77% and a net margin of 2.72%. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm posted $2.95 EPS. Sunoco's revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts expect that Sunoco LP will post 6.87 earnings per share for the current fiscal year.
Sunoco Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.25%. The ex-dividend date was Friday, November 8th. Sunoco's payout ratio is currently 80.46%.
About Sunoco
(
Free Report)
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.
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