Sunoco LP (NYSE:SUN) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 41.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,349 shares of the oil and gas company's stock after selling 14,964 shares during the period. Van ECK Associates Corp's holdings in Sunoco were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SUN. Tortoise Capital Advisors L.L.C. increased its stake in Sunoco by 26,345.6% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company's stock worth $76,406,000 after acquiring an additional 1,346,258 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Sunoco by 176.6% during the 2nd quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company's stock worth $39,591,000 after purchasing an additional 447,072 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in Sunoco by 33.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 583,323 shares of the oil and gas company's stock valued at $32,981,000 after buying an additional 146,152 shares during the period. International Assets Investment Management LLC raised its holdings in Sunoco by 5,437.3% in the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company's stock valued at $30,747,000 after buying an additional 562,435 shares during the period. Finally, Adams Asset Advisors LLC lifted its position in Sunoco by 82.3% in the second quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company's stock valued at $32,315,000 after buying an additional 258,103 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.

Sunoco Stock Up 0.0 %

SUN stock traded up $0.02 during midday trading on Tuesday, hitting $51.51. The company's stock had a trading volume of 106,717 shares, compared to its average volume of 519,593. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $64.89. The firm has a 50-day simple moving average of $52.75 and a 200-day simple moving average of $53.73. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $7.85 billion, a P/E ratio of 11.85 and a beta of 1.31.

Sunoco (NYSE:SUN - Get Free Report) last released its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 24.47% and a net margin of 2.72%. The company's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 earnings per share. As a group, equities analysts forecast that Sunoco LP will post 7.16 EPS for the current year.

Sunoco Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.80%. Sunoco's dividend payout ratio (DPR) is 80.46%.

Wall Street Analyst Weigh In

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

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.