Wells Fargo & Company MN Sells 32,262 Shares of Sunoco LP (NYSE:SUN)

Wells Fargo & Company MN trimmed its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,062 shares of the oil and gas company's stock after selling 32,262 shares during the period. Wells Fargo & Company MN owned about 0.16% of Sunoco worth $12,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Atria Wealth Solutions Inc. bought a new stake in shares of Sunoco in the 4th quarter worth approximately $256,000. JPMorgan Chase & Co. lifted its stake in Sunoco by 26.2% in 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. Virtu Financial LLC purchased a new stake in Sunoco during the fourth quarter valued at about $239,000. Van ECK Associates Corp boosted its position in Sunoco by 41.1% during the fourth quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company's stock valued at $1,550,000 after buying an additional 8,782 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Sunoco during the fourth quarter valued at about $17,739,000. Hedge funds and other institutional investors own 24.29% of the company's stock.

Sunoco Stock Up 0.6 %

Shares of Sunoco stock traded up $0.33 during trading on Friday, hitting $57.09. The company's stock had a trading volume of 230,036 shares, compared to its average volume of 508,869. Sunoco LP has a 52 week low of $48.00 and a 52 week high of $59.67. The company has a market capitalization of $8.71 billion, a PE ratio of 8.65 and a beta of 1.06. The company has a fifty day simple moving average of $56.81 and a two-hundred day simple moving average of $54.60. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27.

Sunoco (NYSE:SUN - Get Free Report) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Equities research analysts predict that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.8865 dividend. This is a boost from Sunoco's previous quarterly dividend of $0.88. The ex-dividend date was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.21%. Sunoco's payout ratio is presently 53.64%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SUN shares. Mizuho raised their price target on Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, April 3rd. Barclays decreased their target price on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.83.

Sunoco Company 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.