Crescent Grove Advisors LLC Sells 7,178 Shares of Sunoco LP (NYSE:SUN)

Crescent Grove Advisors LLC cut its holdings in shares of Sunoco LP (NYSE:SUN) by 47.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,800 shares of the oil and gas company’s stock after selling 7,178 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Sunoco were worth $467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new stake in Sunoco during the 4th quarter worth about $2,036,000. PNC Financial Services Group Inc. increased its stake in shares of Sunoco by 37.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 35,140 shares of the oil and gas company’s stock worth $1,720,000 after purchasing an additional 9,500 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Sunoco during the 3rd quarter worth about $777,000. International Assets Investment Management LLC increased its stake in shares of Sunoco by 6,075.4% during the 4th quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock worth $34,419,000 after purchasing an additional 565,015 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in shares of Sunoco by 56.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 350,787 shares of the oil and gas company’s stock worth $17,171,000 after purchasing an additional 126,626 shares during the last quarter. 24.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SUN shares. Citigroup lowered shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Tuesday, February 27th. Stifel Nicolaus downgraded shares of Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Tuesday, February 20th. Raymond James increased their price objective on shares of Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Barclays upped their price target on shares of Sunoco from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sunoco from $53.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.71.

Sunoco Trading Down 0.7 %

Shares of SUN traded down $0.37 during trading hours on Tuesday, hitting $51.41. 111,778 shares of the stock were exchanged, compared to its average volume of 455,257. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.40 and a quick ratio of 0.76. The firm has a market capitalization of $5.18 billion, a P/E ratio of 14.21 and a beta of 1.27. The business has a 50-day moving average of $60.55 and a 200-day moving average of $56.84. Sunoco LP has a fifty-two week low of $41.95 and a fifty-two week high of $64.89.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). The company had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. On average, research analysts expect that Sunoco LP will post 4.99 EPS for the current year.

Sunoco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a $0.842 dividend. This represents a $3.37 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend was Tuesday, February 6th. Sunoco’s payout ratio is 92.58%.

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.