Sunoco LP $SUN Stock: Waldron Private Wealth LLC Reduces Position

Waldron Private Wealth LLC lessened its position in shares of Sunoco LP (TXSE:SUN) by 14.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,000 shares of the oil and gas company’s stock after selling 10,000 shares during the quarter. Waldron Private Wealth LLC’s holdings in Sunoco were worth $4,445,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Recurrent Investment Advisors LLC lifted its holdings in shares of Sunoco by 51.5% during the first quarter. Recurrent Investment Advisors LLC now owns 1,027,877 shares of the oil and gas company’s stock worth $66,781,000 after purchasing an additional 349,254 shares during the period. Infrastructure Capital Advisors LLC increased its holdings in Sunoco by 34.1% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 972,935 shares of the oil and gas company’s stock worth $63,212,000 after buying an additional 247,569 shares during the period. Allianz Asset Management GmbH increased its holdings in Sunoco by 12.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 369,073 shares of the oil and gas company’s stock worth $24,912,000 after buying an additional 40,758 shares during the period. International Assets Investment Management LLC raised its position in Sunoco by 2,633.2% during the 3rd quarter. International Assets Investment Management LLC now owns 300,000 shares of the oil and gas company’s stock worth $21,861,000 after buying an additional 289,024 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Sunoco by 32.0% during the 1st quarter. Bank of America Corp DE now owns 204,609 shares of the oil and gas company’s stock worth $13,293,000 after buying an additional 49,589 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Performance

The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 13.66 and a beta of 0.42. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.95. Sunoco LP has a 52-week low of $49.98 and a 52-week high of $80.22. The stock has a 50 day moving average of $73.78 and a 200 day moving average of $68.62.

Sunoco (TXSE:SUN) last released its earnings results on Tuesday, November 3rd. The oil and gas company reported $2.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.39). Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The company had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $11.76 billion. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities research analysts forecast that Sunoco LP will post 10.60 EPS for the current year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be given a $1.0148 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $4.06 dividend on an annualized basis and a yield of 6.6%. This is an increase from Sunoco’s previous quarterly dividend of $1.0023. Sunoco’s dividend payout ratio is 68.07%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SUN shares. Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Mizuho set a $83.00 price objective on shares of Sunoco in a research note on Friday, July 24th. JPMorgan Chase & Co. began coverage on shares of Sunoco in a report on Tuesday, October 20th. They set an “overweight” rating and a $87.00 target price for the company. Barclays restated an “overweight” rating and set a $83.00 target price on shares of Sunoco in a research report on Thursday, October 15th. Finally, Wells Fargo & Company upped their price target on shares of Sunoco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Sunoco currently has a consensus rating of “Buy” and an average target price of $80.12.

Sunoco Profile

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand.

Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.