Waldron Private Wealth LLC Has $3.65 Million Stock Position in Sunoco LP (NYSE:SUN)

Waldron Private Wealth LLC lowered its stake in Sunoco LP (NYSE:SUN - Free Report) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,000 shares of the oil and gas company's stock after selling 49,000 shares during the quarter. Waldron Private Wealth LLC's holdings in Sunoco were worth $3,652,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SUN. Sanctuary Advisors LLC increased its holdings in Sunoco by 11.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company's stock worth $5,236,000 after purchasing an additional 10,080 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company's stock worth $117,644,000 after purchasing an additional 455,361 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Sunoco by 5,437.3% in the third 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. Avid Wealth Partners LLC bought a new position in Sunoco in the 3rd quarter valued at approximately $850,000. Finally, Clearbridge Investments LLC boosted its position in 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 buying an additional 447,072 shares during the period. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Trading Up 2.7 %

SUN stock traded up $1.55 during midday trading on Tuesday, hitting $59.24. The stock had a trading volume of 795,169 shares, compared to its average volume of 597,076. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The business has a fifty day moving average price of $53.75 and a two-hundred day moving average price of $53.34. Sunoco LP has a 1-year low of $49.45 and a 1-year high of $64.89. The firm has a market cap of $9.03 billion, a P/E ratio of 13.62 and a beta of 1.36.

Sunoco (NYSE:SUN - Get Free Report) last announced 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 business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.95 EPS. On average, sell-side analysts predict that Sunoco LP will post 9.63 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a $0.8865 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.55 annualized dividend and a dividend yield of 5.99%. This is a positive change from Sunoco's previous quarterly dividend of $0.88. Sunoco's payout ratio is currently 80.46%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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. Mizuho raised their target price on Sunoco from $61.00 to $66.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Royal Bank of Canada lifted their target price on Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.43.

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.