Sunoco LP (NYSE:SUN) Stake Decreased by Sigma Planning Corp

Sigma Planning Corp reduced its stake in Sunoco LP (NYSE:SUN - Free Report) by 37.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,992 shares of the oil and gas company's stock after selling 10,959 shares during the quarter. Sigma Planning Corp's holdings in Sunoco were worth $926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SUN. ING Groep NV raised its stake in Sunoco by 223.7% in the 4th quarter. ING Groep NV now owns 513,715 shares of the oil and gas company's stock valued at $26,426,000 after acquiring an additional 355,000 shares during the period. Global Retirement Partners LLC boosted its stake in Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company's stock worth $84,000 after buying an additional 788 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Sunoco in the fourth quarter worth approximately $256,000. Venturi Wealth Management LLC boosted its stake in shares of Sunoco by 6,891.7% during the fourth quarter. Venturi Wealth Management LLC now owns 2,517 shares of the oil and gas company's stock valued at $129,000 after purchasing an additional 2,481 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of Sunoco by 18.7% during the fourth quarter. Sanctuary Advisors LLC now owns 114,352 shares of the oil and gas company's stock valued at $5,882,000 after purchasing an additional 17,975 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Performance

Sunoco stock traded up $0.72 during midday trading on Friday, hitting $58.76. 391,711 shares of the company were exchanged, compared to its average volume of 537,934. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89. The business has a fifty day simple moving average of $54.97 and a two-hundred day simple moving average of $53.73. The firm has a market capitalization of $8.97 billion, a PE ratio of 8.90 and a beta of 1.36.

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Sunoco (NYSE:SUN - Get Free Report) last posted its 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, sell-side analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.8865 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.03%. This is a boost from Sunoco's previous quarterly dividend of $0.88. Sunoco's dividend payout ratio is currently 53.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Mizuho upped their target price on Sunoco from $61.00 to $66.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on Sunoco from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Finally, Barclays increased their price objective on Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $63.83.

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.