Whittier Trust Co. of Nevada Inc. Sells 21,823 Shares of Sunoco LP $SUN

Whittier Trust Co. of Nevada Inc. decreased its position in Sunoco LP (NYSE:SUN) by 30.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,351 shares of the oil and gas company’s stock after selling 21,823 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Sunoco were worth $2,698,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SUN. Harbor Asset Planning Inc. bought a new stake in shares of Sunoco in the 2nd quarter valued at approximately $41,000. Northwestern Mutual Wealth Management Co. boosted its position in Sunoco by 110.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,069 shares during the period. IFP Advisors Inc boosted its position in Sunoco by 17.1% during the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company’s stock worth $166,000 after purchasing an additional 419 shares during the period. McIlrath & Eck LLC bought a new stake in Sunoco during the first quarter worth approximately $199,000. Finally, Retirement Income Solutions Inc bought a new stake in Sunoco during the first quarter worth approximately $203,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of NYSE SUN opened at $53.42 on Wednesday. The business has a fifty day simple moving average of $51.09 and a 200 day simple moving average of $53.24. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 26.31 and a beta of 0.53. Sunoco LP has a one year low of $47.98 and a one year high of $59.88.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.35). Sunoco had a net margin of 2.02% and a return on equity of 10.57%. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the company posted $3.85 earnings per share. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Sell-side analysts expect that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Thursday, October 30th will be paid a dividend of $0.9202 per share. This is an increase from Sunoco’s previous quarterly dividend of $0.91. This represents a $3.68 annualized dividend and a yield of 6.9%. The ex-dividend date is Thursday, October 30th. Sunoco’s dividend payout ratio is currently 179.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SUN. JPMorgan Chase & Co. upped their target price on Sunoco from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sunoco in a research report on Wednesday, October 8th. Mizuho decreased their target price on Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Finally, Zacks Research raised Sunoco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.50.

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.