Guggenheim Capital LLC reduced its position in Sunoco LP (NYSE:SUN) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 126,340 shares of the oil and gas company’s stock after selling 5,571 shares during the period. Guggenheim Capital LLC’s holdings in Sunoco were worth $3,588,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SUN. Deutsche Bank AG raised its position in Sunoco by 168.9% in the 4th quarter. Deutsche Bank AG now owns 913,280 shares of the oil and gas company’s stock worth $25,937,000 after purchasing an additional 573,698 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Sunoco in the 4th quarter worth about $11,161,000. Renaissance Technologies LLC purchased a new stake in Sunoco in the 4th quarter worth about $8,553,000. JPMorgan Chase & Co. raised its position in Sunoco by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,450,389 shares of the oil and gas company’s stock worth $44,440,000 after purchasing an additional 173,588 shares during the period. Finally, Cadence Capital Management LLC bought a new position in Sunoco in the 4th quarter worth about $3,533,000. 30.00% of the stock is currently owned by institutional investors.
NYSE SUN opened at $26.43 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 3.39 and a current ratio of 3.74. Sunoco LP has a 52-week low of $24.76 and a 52-week high of $33.11. The company has a market cap of $2,568.35, a PE ratio of 11.54 and a beta of 0.63.
A number of equities analysts have commented on SUN shares. Goldman Sachs upgraded shares of Sunoco from a “sell” rating to a “neutral” rating and set a $33.00 target price on the stock in a research note on Monday, December 18th. B. Riley set a $32.00 target price on shares of Sunoco and gave the stock a “neutral” rating in a research note on Monday, December 18th. Jefferies Group restated a “neutral” rating on shares of Sunoco in a research note on Wednesday, December 20th. Credit Suisse Group started coverage on shares of Sunoco in a research note on Thursday, January 4th. They issued a “neutral” rating and a $28.00 target price on the stock. Finally, JPMorgan Chase upgraded shares of Sunoco from a “neutral” rating to an “overweight” rating and set a $29.20 target price on the stock in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $31.10.
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Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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