Kayne Anderson Capital Advisors LP Cuts Position in Sunoco LP (NYSE:SUN)

Kayne Anderson Capital Advisors LP cut its holdings in shares of Sunoco LP (NYSE:SUN - Free Report) by 51.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,431 shares of the oil and gas company's stock after selling 10,089 shares during the period. Kayne Anderson Capital Advisors LP's holdings in Sunoco were worth $506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingsview Wealth Management LLC acquired a new stake in Sunoco in the first quarter valued at approximately $201,000. Advisors Asset Management Inc. purchased a new stake in Sunoco in the 1st quarter worth $370,000. Keeley Teton Advisors LLC acquired a new position in Sunoco during the first quarter worth $301,000. Energy Income Partners LLC purchased a new position in Sunoco during the first quarter valued at $10,494,000. Finally, SVB Wealth LLC acquired a new stake in shares of Sunoco in the first quarter valued at about $248,000. Hedge funds and other institutional investors own 24.29% of the company's stock.

Wall Street Analyst Weigh In

SUN has been the subject of several research analyst reports. Royal Bank of Canada upped 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. JPMorgan Chase & Co. increased their price objective on Sunoco from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, September 4th. Finally, StockNews.com cut shares of Sunoco from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.25.

Sunoco Trading Up 3.3 %

Shares of NYSE SUN traded up $1.72 during trading on Monday, hitting $53.88. 660,002 shares of the company were exchanged, compared to its average volume of 517,650. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89. The firm has a market capitalization of $8.21 billion, a PE ratio of 12.39 and a beta of 1.31. The company has a fifty day moving average price of $52.72 and a 200-day moving average price of $53.58. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.72 and a current ratio of 1.16.

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

Sunoco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Friday, November 8th. Sunoco's dividend payout ratio (DPR) is currently 80.46%.

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.