JPMorgan Chase & Co. Cuts Holdings in Sunoco LP (NYSE:SUN)

JPMorgan Chase & Co. reduced its position in Sunoco LP (NYSE:SUN - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,150,701 shares of the oil and gas company's stock after selling 40,869 shares during the period. JPMorgan Chase & Co. owned approximately 1.41% of Sunoco worth $110,632,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SUN. Steward Partners Investment Advisory LLC lifted its stake in shares of Sunoco by 17.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company's stock valued at $64,000 after buying an additional 182 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Sunoco by 1.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company's stock worth $570,000 after acquiring an additional 190 shares during the last quarter. Stifel Financial Corp lifted its position in Sunoco by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company's stock valued at $1,355,000 after acquiring an additional 194 shares in the last quarter. World Investment Advisors LLC boosted its stake in Sunoco by 5.6% during the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company's stock valued at $204,000 after purchasing an additional 200 shares during the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Sunoco by 2.6% during the 3rd quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company's stock worth $517,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SUN shares. Barclays dropped their target price on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Mizuho lifted their price objective on shares of Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Royal Bank of Canada upped their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Sunoco has an average rating of "Moderate Buy" and an average target price of $63.83.

Sunoco Stock Performance

SUN stock traded down $0.39 during midday trading on Monday, hitting $52.45. The company's stock had a trading volume of 1,217,042 shares, compared to its average volume of 513,992. Sunoco LP has a 1 year low of $48.00 and a 1 year high of $59.67. The stock's 50-day moving average price is $57.54 and its 200 day moving average price is $54.61. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 7.95 and a beta of 1.06.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. On average, equities 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. Stockholders of record on Friday, February 7th were given a $0.8865 dividend. This is a positive change from Sunoco's previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date of this dividend was Friday, February 7th. Sunoco's dividend payout ratio (DPR) is 53.64%.

About Sunoco

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.