Sunoco LP (NYSE:SUN) Stock Position Raised by Waldron Private Wealth LLC

Waldron Private Wealth LLC boosted its stake in Sunoco LP (NYSE:SUN - Free Report) by 140.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the oil and gas company's stock after acquiring an additional 70,000 shares during the quarter. Waldron Private Wealth LLC owned about 0.08% of Sunoco worth $6,442,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. CNB Bank acquired a new stake in Sunoco during the 1st quarter valued at $30,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco during the second quarter valued at about $32,000. First Horizon Advisors Inc. purchased a new stake in shares of Sunoco during the second quarter worth about $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of Sunoco in the second quarter worth about $46,000. Finally, Register Financial Advisors LLC purchased a new position in Sunoco in the first quarter valued at about $55,000. Institutional investors and hedge funds own 24.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SUN shares. JPMorgan Chase & Co. upped their target price on Sunoco from $61.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, September 4th. StockNews.com downgraded shares of Sunoco from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Barclays dropped their target price on shares of Sunoco from $61.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada increased their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.25.

Sunoco Stock Performance

NYSE SUN traded up $0.57 during trading hours on Tuesday, reaching $51.71. The company's stock had a trading volume of 247,740 shares, compared to its average volume of 528,294. The company has a current ratio of 1.26, a quick ratio of 0.72 and a debt-to-equity ratio of 1.69. The business has a 50-day simple moving average of $53.10 and a 200 day simple moving average of $54.05. Sunoco LP has a 52 week low of $49.00 and a 52 week high of $64.89. The stock has a market cap of $7.88 billion, a PE ratio of 6.84 and a beta of 1.30.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $2.62. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter last year, the business posted $0.78 EPS. The business's revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Sunoco LP will post 8.09 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.50 annualized dividend and a dividend yield of 6.77%. Sunoco's dividend payout ratio is currently 46.30%.

Sunoco 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.