Sunoco LP (NYSE:SUN) Stake Decreased by Fmr LLC

FMR LLC reduced its position in Sunoco LP (NYSE:SUN - Free Report) by 96.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,470 shares of the oil and gas company's stock after selling 672,125 shares during the period. FMR LLC's holdings in Sunoco were worth $1,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SUN. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sunoco by 16.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,902 shares of the oil and gas company's stock valued at $221,000 after purchasing an additional 564 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Sunoco by 3.3% in the 2nd quarter. Apollon Wealth Management LLC now owns 44,013 shares of the oil and gas company's stock valued at $2,488,000 after buying an additional 1,393 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Sunoco by 42.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 276,829 shares of the oil and gas company's stock valued at $15,652,000 after buying an additional 83,008 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in Sunoco during the second quarter worth $38,000. Finally, Carnegie Investment Counsel raised its holdings in shares of Sunoco by 15.1% in the second quarter. Carnegie Investment Counsel now owns 5,354 shares of the oil and gas company's stock worth $303,000 after acquiring an additional 704 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Trading Down 0.6 %

Shares of SUN stock traded down $0.34 during trading hours on Monday, hitting $53.02. 273,267 shares of the company were exchanged, compared to its average volume of 504,602. Sunoco LP has a 1 year low of $49.45 and a 1 year 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 firm has a fifty day moving average of $53.13 and a 200 day moving average of $53.77. The firm has a market cap of $8.08 billion, a PE ratio of 12.27 and a beta of 1.33.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The business's revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm posted $2.95 earnings per share. Analysts expect that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors 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 6.61%. The ex-dividend date of this dividend was Friday, November 8th. Sunoco's dividend payout ratio (DPR) is presently 80.46%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Sunoco from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Royal Bank of Canada lifted their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Finally, Barclays upped their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.