International Assets Investment Management LLC Sells 561,735 Shares of Sunoco LP (NYSE:SUN)

International Assets Investment Management LLC lessened its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 98.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,044 shares of the oil and gas company's stock after selling 561,735 shares during the quarter. International Assets Investment Management LLC's holdings in Sunoco were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUN. Redwood Wealth Management Group LLC acquired a new position in shares of Sunoco in the 2nd quarter worth $46,000. Wilmington Savings Fund Society FSB purchased a new position in Sunoco in the 3rd quarter worth about $165,000. World Investment Advisors LLC raised its holdings 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 worth $204,000 after buying an additional 200 shares during the period. Tyche Wealth Partners LLC lifted its stake in Sunoco by 5.4% during the third 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 in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Sunoco in the third quarter worth about $221,000. Institutional investors own 24.29% of the company's stock.

Sunoco Stock Down 1.9 %

Shares of NYSE:SUN traded down $1.01 during midday trading on Friday, hitting $51.45. 419,120 shares of the stock were exchanged, compared to its average volume of 314,370. The company has a market capitalization of $7.84 billion, a PE ratio of 11.83 and a beta of 1.36. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $64.89. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The business's fifty day simple moving average is $52.92 and its two-hundred day simple moving average is $53.54.

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

Sunoco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date was Friday, November 8th. Sunoco's dividend payout ratio (DPR) is presently 80.46%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SUN shares. Barclays upped their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price target on Sunoco from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Sunoco has an average rating of "Moderate Buy" and a consensus price target of $62.75.

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.