Tortoise Capital Advisors L.L.C. Sells 69,951 Shares of Sunoco LP (NYSE:SUN)

Tortoise Capital Advisors L.L.C. lessened its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,279,736 shares of the oil and gas company's stock after selling 69,951 shares during the period. Sunoco makes up about 0.8% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 21st largest holding. Tortoise Capital Advisors L.L.C. owned approximately 0.84% of Sunoco worth $65,830,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Independence Bank of Kentucky bought a new stake in shares of Sunoco during the fourth quarter worth $53,000. Steward Partners Investment Advisory LLC lifted its holdings in 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 during the period. Global Retirement Partners LLC boosted its position in shares of Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company's stock valued at $84,000 after purchasing an additional 788 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Sunoco during the 4th quarter worth approximately $90,000. Finally, Huntington National Bank grew its holdings in Sunoco by 440.3% in the fourth quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company's stock worth $92,000 after purchasing an additional 1,453 shares during the period. Institutional investors and hedge funds own 24.29% of the company's stock.

Sunoco Price Performance

NYSE SUN traded down $0.37 on Thursday, hitting $58.80. The stock had a trading volume of 183,084 shares, compared to its average volume of 506,300. Sunoco LP has a 52-week low of $48.00 and a 52-week high of $59.67. The firm has a 50-day moving average of $56.87 and a 200-day moving average of $54.72. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 8.91 and a beta of 1.06.

Sunoco (NYSE:SUN - Get Free Report) last released 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 return on equity of 22.52% and a net margin of 3.85%. Equities analysts expect that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be issued a dividend of $0.8976 per share. The ex-dividend date is Friday, May 9th. This represents a $3.59 annualized dividend and a dividend yield of 6.11%. This is a positive change from Sunoco's previous quarterly dividend of $0.89. Sunoco's dividend payout ratio (DPR) is currently 53.64%.

Analyst Ratings Changes

SUN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Sunoco from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday. Barclays cut their target price on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, Mizuho raised 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, April 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $64.33.

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.